2013 Corporate Sustainability Report

Transcription

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www.halliburton.com
© 2014 Halliburton. All Rights Reserved.
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H010841
WHAT
MOVES
US
We are working to be
a leader in corporate
sustainability.
Discover what moves
us ahead.
REPORT INFORMATION //
Previous Reports
LOOK BENEATH THE SURFACE
Calendar year 2012
INTEGRATING SUSTAINABILITY –
EXPANDING OUR COMMITMENT
Calendar year 2011
SUSTAINABILITY IS IN OUR DNA
Calendar year 2010
Report Parameters
Reporting period: Calendar Year 2013
Published date of previous report: March 2013
Reporting cycle: Annual
Printed on FSC-certified paper that contains 100 percent
post-consumer recovered fiber. FSC certification ensures that
this paper meets Forest Stewardship Council standards for
responsible forest management.
For More Information
For additional copies, please contact:
Halliburton Global Director of Sustainability
10200 Bellaire Boulevard
1NE-42A
Houston, Texas 77072
United States
Email: [email protected]
Visit our GRI Index Response web page at
www.halliburton.com/sustainability.
Halliburton is a publicly traded corporation registered in Delaware.
There were no significant changes to the size, structure or
ownership of the Company in 2013.
In this report, only the financial data encompasses all of our
product service lines, countries, joint ventures and non-wholly
owned subsidiaries.
This report contains descriptions of our 2013 sustainability
initiatives. Wherever possible, assessments of performance trends
from 2010 to 2013 are provided to better highlight the trends’
significance over time. Topics covered in this report are those most
pertinent to our business sector, and they arise from the context
and expectations of the sector. Our analysis of the significance of
topics relates to the Company’s short- and long-term strategies,
and takes into consideration:
• Issues included in surveys sent to companies by sustainability
indexes and financial rating agencies for the assessment of
sustainability performances
• Public information coming from institutions, governments,
nongovernment organizations (NGOs) and associations, at
both international and local levels
• Benchmark analysis and monitoring of the oil and gas sector.
The boundaries of this report correspond to those of the 2013
Halliburton Annual Report.
The data included in this report come from the Company’s official
management and reporting systems for the various functions
described in this document.
The 2013 Corporate Sustainability Report was drafted in
accordance with the Reporting Guidelines of the Global
Reporting Initiative, version G3.
WHAT MOVES US //
Table of Contents
14
1
STAKEHOLDER
LETTER
Financial Performance
8
CORPORATE
GOVERNANCE
18
Health, Safety & Environment
10
36
28
ETHICS & EQUALITY
TECHNOLOGY &
INNOVATION
Global Citizenship
54
MUTUAL
COLLABORATION
Stakeholder Letter & Overviewoooooooooooooooooooooooooooooooooooo 1
To Our Stakeholders ooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooo
1
Corporate Overviewooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooo 2
Strategic Overviewooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooo4
Guiding Principles for Sustainabilityo oooooooooooooooooooooo 6
Corporate Governance oooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooo 8
Board of Directors – Statement of Purpose o ooooooooooooooooooooooooooooooooooo8
Board Composition and Diversityoooooooooooooooooooooooooooooooooooooooooooooooooooooo 8
Board Oversight and Committees ooooooooooooooooooooooooooooooooooooooooooooooooooooo9
Communication with the Board of Directorsoooooooooooooooooooooooooooooooooo9
Executive Compensationooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooo9
Ethics & Equalityooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooo10
Code of Business Conduct oooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooo10
Addressing Concerns o oooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooo12
Foreign Corrupt Practices Act oooooooooooooooooooooooooooooooooooooooooooooooooooooooooooo12
Compliance System Audits ooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooo12
LEO Programooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooo12
Employment Practicesoooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooo12
Political Contributions oooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooo13
Financial Performance ooooooooooooooooooooooooooooooooooooooooooooooooooooooooo14
Our Strategy in Action oooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooo16
Delivering on our Commitments ooooooooooooooooooooooooooooooooooooooooooooooooooooooo16
Extending the Momentum oooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooo17
Health, Safety & Environment ooooooooooooooooooooooooooooooooooooo18
Our Journey to ZERO ooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooo20
Key Achievementsooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooo20
Ongoing Focus ooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooo22
Halliburton Management Systemoooooooooooooooooooooooooooooooooooooooooooooooooooooo22
Health and Safety Performance ooooooooooooooooooooooooooooooooooooooooooooooooooooooooo23
Environmental Performance ooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooo24
Service Qualityoooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooo27
HSE Awards and Recognition ooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooo27
Post-Macondo Activities ooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooo27
Technology & Innovationooooooooooooooooooooooooooooooooooooooooooooooooooo 28
Resources and Results oooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooo30
Technology Fellows Program oooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooo32
Deepwater Technology Highlights oooooooooooooooooooooooooooooooooooooooooooooooooooo32
Mature Fields Technology Highlights o oooooooooooooooooooooooooooooooooooooooooooooo32
Unconventionals Technology Highlights ooooooooooooooooooooooooooooooooooooooooo33
Promoting Technology Education ooooooooooooooooooooooooooooooooooooooooooooooooooooo33
Mergers and Acquisitions oooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooo34
Technology & Remote Operating Centers oooooooooooooooooooooooooooooooooooooo34
Global Citizenshipooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooo36
Our Employeesooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooo38
Our Communitiesoooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooo44
Transparencyooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooo48
Board of Directors Reportsoooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooo50
Ethics and Code of Business Conductoooooooooooooooooooooooooooooooooooooooooooooo50
Enterprise Risk Management oooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooo50
Shareholder Engagement oooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooo50
Internal Assurance Services oooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooo52
Ethics Helpline and Websiteoooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooo52
HSE and Sustainable Development Executive Committeeooooooooo53
Technical Transparency and Disclosure ooooooooooooooooooooooooooooooooooooooooooo53
Chemical Transparencyoooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooo53
Global Reporting Initiative ooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooo53
Mutual Collaborationooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooo54
Supplier Diversityo oooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooo56
Supplier Engagement oooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooo56
Customer Engagement oooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooo56
Technology Collaboration ooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooo56
Employee Engagement oooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooo58
Industry Engagement o oooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooo58
Global Environmental Management Initiativeoooooooooooooooooooooooooooooooo58
Public Engagement oooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooo58
GRI Content Indexooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooo 60
WHAT MOVES US //
Commitment
Stakeholder Letter & Overview
To Our Stakeholders,
At Halliburton, we believe in setting bold goals that stretch our abilities, drive
our growth and reflect an unwavering commitment to the well-being of our
people, our communities and our world. We measure success, not just in the
financial performance we deliver, but in the degree to which we live up to our
Guiding Principles of Sustainability. In this report, we outline those principles
and the actions we are taking to be at the forefront of corporate sustainability.
During 2013, we delivered positive growth for our shareholders, strengthened our
position for future success and advanced our sustainability goals.
We grew our revenue to a new record of $29.4 billion and increased our dividend
payout by 67 percent.
We continue our Journey to ZERO, a bold vision to eliminate safety and environmental
incidents as well as nonproductive time, with a 26 percent improvement in
our recordable incident rate and increased use of technology to streamline our
internal processes.
We expanded deployment of our Frac of the Future™ hydraulic-fracturing delivery
system, which reduces our environmental footprint at wellsites and makes our
operations more efficient and environmentally friendly. Frac of the Future™ is just
one part of HALvantage, a growing set of initiatives that are taking efficiency to the
next level across all of our product lines and businesses.
As part of our commitment to our local communities, Halliburton provided more than
$4.1 billion in cash contributions and in-kind donations to nonprofit organizations and
educational institutions around the world.
These are just a few examples of the ways we are working to live by the Guiding
Principles that represent the very essence of our culture and the foundation for every
decision, plan and action. We thank our board of directors, employees, customers,
suppliers and shareholders for embracing these principles and helping us move closer
to our global vision for sustainability.
DAVID J. LESAR
Chairman of the Board,
President and
Chief Executive Officer
JEFFREY A. MILLER
Executive Vice President,
Chief Operating Officer and
Chief Health, Safety and
Environment Officer
MARK A. McCOLLUM
Executive Vice President
and Chief Financial Officer
LAWRENCE J. POPE
Executive Vice President of
Administration and Chief
Human Resources Officer
ROBB L. VOYLES
Executive Vice President
and General Counsel
TIMOTHY J. PROBERT
Strategic Advisor to the
Chief Executive Officer
1
WHAT MOVES US //
Business
Corporate Overview
Halliburton is one of the world’s largest providers of products
and services to the global energy industry. We have corporate
headquarters in Houston, Texas, and Dubai, United Arab
Emirates, and more than 75,000 employees representing
140 nationalities working in more than 80 countries. The
Company serves the upstream oil and natural gas industry
throughout the life cycle of the reservoir – from locating
hydrocarbons and managing geological data, to drilling and
formation evaluation, to well construction and completion,
to optimizing production through the life of the field.
Halliburton was founded in 1919 by Erle P. Halliburton as a
cementing company. Over the years, it has extended its scope
of services in the oil and gas sector. In 2007, Halliburton split
off Kellogg, Brown and Root (KBR), the contracting, engineering
and construction unit of the Company, to focus exclusively on
energy services.
Halliburton comprises 13 product service lines (PSLs), 12 of which
fall within our Drilling and Evaluation Division and our Completion
and Production Division. Our Consulting and Project Management
PSL is the spearhead of our integrated services strategy and works
across both divisions.
The Company is organized into four regions: North America,
Latin America, Europe/Africa/Commonwealth of Independent
States (CIS) and Middle East/Asia. The regional teams, with their
close knowledge of customers and local conditions, are primarily
responsible for sales and for the execution of our services and
service quality (SQ). They share with the PSLs the responsibility
for executing our health, safety and environment (HSE) strategy.
Product Service Lines
DRILLING & EVALUATION DIVISION

Baroid
Drill Bits and Services
 Landmark Software and Services
 Sperry Drilling
 Testing and Subsea
 Wireline and Perforating

2
COMPLETION &
PRODUCTION DIVISION

Artificial Lift
 Boots & Coots
 Cementing
 Completion Tools
 Multi-Chem
 Production Enhancement
SUPPORTING BOTH DIVISIONS

Consulting and Project Management
HALLIBURTON // 2013 COR POR ATE SUSTA I NA BILIT Y R EPORT
3
31
>
Halliburton’s deepwater revenue
grew 31 percent per year over the past
three years, compared to 13 percent
for the industry.
In just three years, we grew our
mature fields revenue from
$900 million to approximately
$3 billion per year.
%
DEEPWATER
300
MATURE FIELDS
%
70
>
%
UNCONVENTIONALS
We continue to lead the
unconventionals market, growing our
North America revenue by more than
70 percent over the last three years.
WHAT MOVES US //
Strategy
Strategic Overview
Halliburton’s success is rooted in a sound strategy executed by
a management team that is never satisfied with the status quo.
Our focus on deepwater, mature fields and unconventionals
has allowed us to grow our revenue by 64 percent over the past
three years. These high-growth market segments will continue
to fuel our growth as we leverage the investments we have
made to extend the momentum we have built.
long-term growth to the relatively small number of competitors
able to successfully execute these projects. We have invested in
capabilities and proprietary execution models that have positioned
us very well in this arena. Migrating our project portfolio to
asset management contracts is central to our mature fields
growth strategy.
DEEPWATER: Over the past five years, 60 percent of all hydrocarbon
undisputed leadership in North American unconventionals by
reading the market’s evolution and staying ahead of the curve in
serving emerging needs. With the exploration phase essentially
complete for many of our customers and full-scale development
underway, customers need better producing wells, built faster,
at lower cost and with reduced risk. We’ve focused holistically
on the reservoir and pioneered integrated solutions that cut
across PSLs to build the industry’s most efficient and effective
delivery platform. Today, we are the low-cost provider, and we build
the best wells using proprietary technologies like CYPHER,SM which
provides exceptional sub-surface insight. We also have taken the
lead in environmentally friendly solutions and extended our
leadership in North America by addressing both sides of the value
equation to reduce costs and increase production. To capture
opportunities in emerging international markets, we are leveraging
our unconventionals expertise.
discoveries, in terms of volume, were made in deepwater, and
licensing activity is at an all-time high. The deepwater development
activity is seeing the strongest growth – 13 percent per year
compared to 4 percent for exploration. This trend enables us
to leverage Halliburton’s number one position in completions, our
integration capabilities and our reputation for execution certainty.
After investing more than $1 billion to expand our deepwater
operations in 30 countries, we now have a presence in all of
the world’s deepwater markets. Leveraging our infrastructure
investments, leadership and new technologies that maximize
customer assets, we are well positioned to outgrow the market
as we have done over the past three years.
MATURE FIELDS: Fields that are past their peak represent
60 percent of Integrated Oil Company (IOC) asset portfolios,
and their production is declining by more than 8 percent per year.
Despite a sharp increase in service intensity that has multiplied
revenue opportunities for service providers, mature fields continue
to generate very attractive returns and free cash flow for customers
compared to capital-intensive new development projects. In
addition, the market is moving from discrete services to integrated
solutions and asset management arrangements, which offer stable,
4
UNCONVENTIONALS: Halliburton has built a position of
TECHNOLOGY: Innovative technologies that reduce uncertainty,
improve access to hydrocarbons and enhance execution underpin
our strategy across all of our businesses. Over the past three
years, we have increased our technology spending by more than
60 percent, and we are seeing the results in sharply higher patent
filings, growth in new product revenue and the competitive
advantage that innovation brings.
During 2013, we saw increased collaboration and more joint
technology development with customers who co-fund and
work with us in solving specific problems. This is a positive trend
that raises our technology profile, adds more ideas to the mix,
increases customer ownership of the solutions and promotes
their commercial success.
We are committed to continue increasing technology spending
at a rate consistent with our revenue growth and to the ongoing
globalization of our Research and Development (R&D) footprint.
With the official opening of our technology center in Saudi Arabia
in January 2014, we have 16 such facilities around the world that
foster collaboration with customers on solutions to regional issues.
INTEGRATION: Halliburton’s integrated approach to creating
solutions is a key differentiator that is central to our strategy. By
working across PSLs, our teams develop effective solutions to
complex challenges that cross the boundaries between businesses
and disciplines. In addition to producing superior solutions,
integration is the key to efficiency and outstanding execution.
EMPLOYEE AND COMMUNITY INVESTMENT: Driven to building
productive relationships that are vital to the sustainability of our
Company and our communities, we proactively seek opportunities
to demonstrate that we are as diligent in corporate citizenship
as we are in pursuing our business objectives. We engage with
communities to foster trust and to be a positive force in the areas
where we operate. Through dialogue with governments and
community organizations, we respond to questions and provide
clarity about any issues and concerns that may arise as we build
or expand our presence in a community. Dedicated to the wellbeing of our employees, we have a company-wide focus on safety
with the ultimate goal of eliminating all safety incidents. Through
extensive training opportunities and comprehensive quality-of-life
benefits, we maintain and develop the one asset that drives all of
our success – the world-class Halliburton team.
5
Sustainability is an integral part of our
strategy as we work with customers
and suppliers to develop global energy
resources. We constantly seek to develop
innovative technologies and apply our
operational expertise to minimize our
environmental footprint and better
manage the risks and social challenges
that are inherent in our industry.
Built on a solid foundation of ethics
and integrity, Halliburton’s Guiding
Principles for Sustainability provide the
framework for our operations and our
future. To ensure that these principles
guide every aspect of our decisions, plans
and actions, we have matched each with
a clearly defined intent.
PRINCIPLE

INTENT
Guiding
Principles


AC H I E V E M E N T S
WHAT MOVES US //
1
2
Financial Performance
Deliver superior value
for our shareholders
Health, Safety
and Environment
Conduct operations
that are safe and
environmentally
responsible
To outperform our
competitors by delivering
superior growth, margins and
returns to our shareholders
To advance on our
Journey to ZERO health,
safety, environment and
service quality vision
$29.4 billion in
total revenue
26 percent
improvement in TRIR
67 percent dividend
payout increase
Historical best
0.14 LTIR
Record revenues in every
international region and across
both of our divisions drove
Halliburton’s revenue to a new
high of $29.4 billion.
We raised our dividend twice
for a total payout increase
of 67 percent, and we
repurchased approximately
$4.4 billion of our outstanding
shares of common stock.
6 of 13 PSLs had record
operating income
We achieved record operating
income in our Middle East/Asia
region as well as six of our
13 product service lines.
We reduced our total
recordable incident rate
(TRIR) by 26 percent, the
largest decline in the
Company’s history.
Our lost time incident rate
(LTIR) of 0.14 was our best
since the Company began
keeping consolidated records
in 1999.
26 percent decrease
in emissions
We reduced our global carbon
dioxide emissions by 26 percent
in 2013.
Ethics and integrity are the
6
3
4
5
6
Technology
and Innovation
Lead the industry in
innovation, technology
development and
conscientious
stewardship of
global resources
Global Citizenship
Enhance the economic
and social well-being
of our employees and
the communities in
which we operate
Transparency
Be transparent in
reporting and validating
our progress
Mutual Collaboration
Engage our stakeholders
to help achieve results
that are compatible with
our stated principles
To develop technological
solutions that give our
customers economic access
to new hydrocarbon resources
and maximize the value of
their existing assets
To be a preferred employer
and make a positive impact
in the communities where
we live and work
To provide our stakeholders
with thorough and timely
information on our progress
To actively communicate
with key stakeholders to help
achieve mutual objectives
3,553 active patents
Perfect 100 Dow Jones
Sustainability™ score
14 languages
42 industry events
Halliburton has 3,553 active
U.S. patents of which 394
were issued in 2013.
16 technology centers
With the opening of
Halliburton’s Saudi Arabia
Technology Center,
the Company now has
16 technology centers across
the globe that foster diversity
and collaboration.
20+ percent
improvement
Our CYPHERSM Seismicto-Stimulation service is
delivering over 20 percent
improvement in oil and gas
production per well.
The Dow Jones Sustainability™
Indices awarded us with a
perfect score of 100 in Human
Capital Development for the
fourth consecutive year.
$3.2 million to
local communities
In 2013, employees in
17 participating countries
pledged more than
$3.2 million to assist their
local communities.
$4.1 billion
in-kind donations
Halliburton made in-kind
donations of software through
the Landmark Software and
Services product service line
with a value of $4.1 billion.
Halliburton has issued
its Code of Business Conduct
in 14 languages.
77,000+ material
safety data sheets
Halliburton shares greater than
77,000 material safety data
sheets in up to 22 languages.
88,000+
home page visits
Our hydraulic-fracturing
microsite has had more than
88,000 home page visits and
approximately 436,000 total
page views by external visitors
since going live in 2010.
Company executives
participated prominently
in 42 major industry-related
events in 2013.
60+ global events
attended
Halliburton participated
in more than 60 global
events to promote
women and minorities at
pre-college, college and
professional levels.
$441 million
spent with minority
suppliers
Halliburton spent
$441 million with
minority- and womenowned suppliers.
foundation for Halliburton’s Guiding Principles.
7
11
Halliburton’s 11-member board of
directors provides broad oversight of
the management and governance of
the Company.
44
Halliburton has 44 Local Ethics
Officers in 33 countries
WHAT MOVES US //
Direction
Corporate Governance
Board of Directors –
Statement of Purpose
As members of the Halliburton board of directors, our primary
responsibility is to guide the Company firmly and steadily
toward sustainability. We take seriously the title “Director”,
and we endeavor to guide the Company in its business, and in
its way of doing business, through the decisions and choices we
make today. Our purpose is to steer the Company in such a way
that it fulfills its responsibilities to communities, shareholders,
employees and the environment. As overseers of Halliburton’s
performance, we are committed to the Company’s long-term
goals and to ensuring its success in achieving them.
This report contains key measures of our effectiveness, the
integration of sustainability into the Company’s business strategy
and into its performance-management system as well as its
progress in building a diverse workforce and supplier base.
Social and environmental factors have an increasing impact on
shareholder value and are, therefore, ever more important to
Halliburton’s success. On behalf of all stakeholders, it is our
purpose and intent to ensure that the impact continues to be
positive and substantial.
8
Board Composition and Diversity
Halliburton’s board of directors provides broad oversight of the
management and governance of our Company. In 2013, our board
included 11 members. All directors stand for election at our annual
meeting of shareholders, and all directors are independent as
defined by the New York Stock Exchange guidelines, except the
Chairman of the Board.
The board of directors has determined that, at this time, the
interests of our shareholders are best met through combining the
positions of Chairman of the Board and Chief Executive Officer
(CEO). This decision is reviewed annually. The board retains the
authority to separate the positions of Chairman and CEO, should
it deem that change to be appropriate in the future.
Halliburton and its board of directors are committed to maintaining
diversity in gender, race, ethnicity, experience, expertise and
nationality. The board’s Nominating and Corporate Governance
Committee annually reviews the Company’s director criteria
and the composition of the board of directors to evaluate
skills, experience, qualifications, diversity profiles and talents.
Additionally, the Nominating and Corporate Governance
Committee performs assessments of the board, committees and
directors; considers recommendations from shareholders and
directors; and proposes directors for Halliburton’s annual board
elections for which a third-party executive search firm is utilized
to identify appropriate director candidates.
Board Oversight and Committees
The board of directors is guided by the Halliburton Corporate
Governance Guidelines, which are reviewed annually. This regular
review ensures that the guidelines are timely and comprehensive,
and that they effectively support the board’s responsibility
for oversight and accountability on behalf of all stakeholders.
Corporate citizenship, governance and corporate sustainability
topics are routinely reviewed at the board and committee
meetings. The board and committees also carry out ongoing
reviews of current risks facing the Company, HSE performance
and financial results. In 2013, the board of directors met five times.
Our Compensation, Nomination and Corporate Governance,
and HSE Committees met five times while the Audit Committee
met nine times. All directors can call executive sessions or request
a special meeting of the board or a committee.
Communication with the Board of Directors
The board of directors, from left to right:
Halliburton management and our board of directors encourage
open and transparent communication with shareholders and
employees. We facilitate communication by listing phone
numbers, a physical address and a link for email on the Corporate
Governance page of the Halliburton website. In addition, our
Corporate Secretary and our governance group reach out to our
shareholders on a regular basis throughout the year and make
themselves available for calls and/or meetings.
ROBERT A. MALONE
President and Chief Executive Officer, The First National Bank of Sonora, Texas
Executive Compensation
JAMES R. BOYD
Retired Chairman of the Board, Arch Coal, Inc.
We believe success results from individuals and teams working
together toward the same vision, with a common culture and
strongly held principles directed toward enhancing shareholder
value. To attract and retain the best people, we structure our
compensation systems for all employees to encourage and reward
contributions toward our shared goals. In fact, we believe investing
in our workforce is the key to Halliburton’s success.
JOSÉ C. GRUBISICH
Chief Executive Officer, Eldorado Brasil Celulose
MILTON CARROLL
Executive Chairman of the Board, CenterPoint Energy, Inc.
DEBRA L. REED
Chairman and Chief Executive Officer, Sempra Energy
J. LANDIS MARTIN
Founder and Managing Director, Platte River Equity
NANCE K. DICCIANI
Retired President and Chief Executive Officer,
Honeywell International Specialty Materials
MURRY S. GERBER
Retired Executive Chairman of the Board, EQT Corporation
DAVID J. LESAR
Chairman of the Board, President and Chief Executive Officer of the Company
ABDALLAH S. JUM’AH
Retired President and Chief Executive Officer, Saudi Arabian Oil Company
ALAN M. BENNETT
Retired President and Chief Executive Officer, H&R Block, Inc.
Halliburton’s executive compensation program features marketdriven compensation within a common, total-compensation
framework, with flexibility to accommodate differences in business
drivers and objectives among Halliburton’s varied business units.
Our executive compensation includes a base salary, a balanced
mix of long- and short-term incentives, supplemental discretionary
retirement and benefits. This program is regularly reviewed to
ensure that it supports the Company’s strategies and generates
value for our shareholders. Additional information is published
in our proxy statement.
9
WHAT MOVES US //
Integrity
Ethics & Equality
Halliburton and its board of directors support universal human
rights as defined by the United Nations Universal Declaration
of Human Rights, and we insist on preserving these rights for
our employees in all locations where we operate. We believe
that safeguarding and protecting basic human rights is the
primary responsibility of local governments. However, as an
employer of a multinational workforce, we require that our
employees be treated with dignity and respect. We enforce
our Code of Business Conduct and all employee policies that
promote fair treatment as well as ethical and lawful behavior.
Code of Business Conduct
Our Code of Business Conduct (COBC) embodies core
components of our culture, which include ethical behavior and
acting with integrity in all that we do. As such, the COBC sets forth
the framework in which we operate. It addresses the standards,
principles, laws and regulations that impact our business, and
delineates our expectations as they relate to employee behavior.
The COBC also designates potential consequences for violations
of these policies – disciplinary action up to and including
termination. This Code applies to all employees, management,
officers and directors of the Company. We also expect others
that may act on our behalf, such as suppliers, agents, consultants
and others, to abide by the principles in our COBC.
10 We provide the COBC in 14 languages, along with a web page on
our intranet that includes the COBC, a summary, articles, examples
and training materials. Extensive training – classroom and online –
is available to all employees, and a basic COBC course must be
completed every other year. In addition, managers are required
to complete an hour-long course annually. For 2013, more than
48,000 Halliburton employees completed over 50,000 hours of
COBC training.
To ensure compliance with these standards of conduct, we provide
training, perform audits and have many avenues for reporting
violations available, including our confidential Ethics Helpline.
We also reward outstanding examples of ethical behavior. Now
in its second year, the Applause program invites all employees
to recognize colleagues who exhibit outstanding performance
in one of four categories. One of the categories, Ethical Behavior,
is a Halliburton core value and a non-negotiable condition of
employment. In 2013, the Company distributed 2,498 ethicsrelated Applause awards representing a value of $284,235.
The Halliburton Law Department’s COBC Practice group fully
investigates every report of misconduct that is submitted. When
appropriate, corrective actions are taken, up to and including
termination. During the year 2013, the COBC Practice group
received 143 reports of alleged misconduct. Through intensive
investigation, the majority of these were determined not to be
violations of the COBC. Of the remaining reports, the allegations
were related to discrimination/harassment; fraud/theft; conflict of
interest; bribery, kickbacks, or sensitive transactions; health, safety
and environment; or unauthorized disclosure of confidential
11
24/7
The Ethics Helpline is available
to employees 24 hours a day,
seven days a week.
2,498
Halliburton issued 2,498 ethicsrelated Applause awards related
to outstanding behavior in ethics.
ETHICS & EQUALITY // CONT...
information. Actions resulting from these investigations included:
terminations; written reprimands; referrals for counseling/training;
resignations (which occurred before the investigation began, during
the investigation or in lieu of termination); restitutions; verbal
reprimands; and suspension/probation.
Addressing Concerns
We actively encourage every member of the Halliburton
community to report perceived violations of our COBC or any
other ethics concerns. Employees have access to the Ethics
Helpline for advice on difficult situations and to report any possible
violations. The helpline, provided in several languages, is available
24 hours a day, 7 days a week. We have a zero-tolerance policy
for any actions that could be considered retaliatory, so employees
can feel confident they are not jeopardizing their jobs by making
a report. However, callers may remain anonymous if they prefer.
Reports of alleged violations of our COBC may also come
through management review or other corporate sources
such as Corporate Security.
Foreign Corrupt Practices Act
We have business practices and policies that provide specific
guidance to our operations personnel in order to eliminate the
risk of violating the U.S. Foreign Corrupt Practices Act (FCPA).
Halliburton employees are prohibited from securing contracts
for the Company by paying – or offering to pay – bribes, kickbacks
or any other illegal, unethical or immoral compensation or
accommodation to government officials. Halliburton has a
detailed process for performing a due-diligence investigation
of any potential commercial agent.
Multilevel management approvals are required before any
commitment can be made to hire an agent or pay any commission.
The Company expects its employees to behave professionally
and ethically when dealing with governmental entities or
companies, and it does not accept any conduct that may cast
a shadow on Halliburton’s integrity or its principles of honesty
and professionalism. We provide in-person and online training
on the FCPA in numerous languages. Managers and all expatriate
employees are required to complete this training annually and in
2013, Halliburton employees completed almost 9,500 courses.
12 Compliance System Audits
Our Compliance Program includes regular internal reviews to
evaluate particular geographical units or areas of business activity
for implementing and following relevant requirements. It is also
our practice to periodically engage outside experts to review the
substance and the implementation of the overall Compliance
Program and to provide feedback on potential enhancements;
we are currently in the process of determining the scope and
scheduling for such a review to be conducted this year. These
internal and external reviews allow our Compliance Program to
be continually refined to ensure we are implementing corporate
best practices in the evolution of our compliance initiatives.
LEO Program
Halliburton started its Local Ethics Officer (LEO) program in 2010,
placing the Company on the cutting edge of best practices. In 2013,
Halliburton had 44 Local Ethics Officers in 33 countries. Each LEO
serves the employees in an assigned area by providing a local link to
the Company’s broader ethics and compliance programs. Chosen
because they exhibit exemplary ethical behaviors and leadership,
the LEOs receive regular updates on regulations and legislation
pertinent to ethical conduct. The Company’s chief ethics and
compliance officer directs the LEO program.
Employment Practices
We hold that all employees should be treated with dignity and
respect, and individuals who fail to follow this principle are held
accountable. Our COBC prohibits all discrimination against any
employee or applicant for employment. We are committed to
providing equal opportunity to all qualified individuals in our hiring
and promotion policies. We endeavor to create a workforce that is
a reflection of the diverse population of the communities in which
we operate. Our COBC relates to all phases of employment and
in particular, confirms that we will not tolerate any behavior that
creates an intimidating, hostile or offensive work environment
for another person, i.e. we intend to provide all employees with a
working experience free of discrimination, harassment, intimidation
or coercion relating directly or indirectly to race, color, religion,
gender, age, disability, national origin or sexual orientation.
We follow all local laws regarding employee wages, and rely
on market and industry standards to frame our compensation
practices. We do not employ child labor. In 2013, we began rollout
of stringent requirements for vendor evaluations regarding no
child labor for suppliers. We seek business partners who share our
commitment to compliance with applicable laws and regulations
regarding wages, working hours, business practices, child labor
and human rights. We prescreen our suppliers and contractors
to confirm their compliance, and we require those seeking to
do business with Halliburton to include, with their proposals,
a statement of their intent to adhere to laws and regulations
regarding forced or child labor and the payment of wages.
Political Contributions
Under federal law, labor unions and corporations are prohibited
from directly contributing to candidate campaigns. The law does
allow for labor unions and corporations to form Political Action
Committees (PACs), which pool voluntary contributions from
their members and donate those funds to candidate campaigns.
Given the impact public policy, regulations and legislation have on
Halliburton’s ability to succeed, the Halliburton Political Action
Committee (HALPAC) makes contributions to political candidates
in the U.S. whose views and positions best meet the interests of
our employees on industry issues. HALPAC is funded by voluntary
contributions from U.S. employees, and complies with all
regulations and disclosure requirements.
2013 Memberships

U.S. Arab Bilateral Chamber of Commerce

Greater Houston Partnership

Texas Independent Producers Association

National Petroleum Council

National Association of Manufacturers

Western Energy Alliance

National Foreign Trade Council (U.S.)

U.S. Oil and Gas Association

Independent Petroleum Association of America

Houston World Affairs Council

Petroleum Equipment Suppliers Association

American Petroleum Institute
Halliburton is a member of a variety of trade associations that
engage in legislative activity regarding matters that affect the
industry as a whole. The activities of the trade association are
directed by the membership as a whole and are not undertaken
on behalf of any individual member. Therefore, as one association
member among many, Halliburton does not direct any legislative
activities. All HALPAC contributions are available on the Federal
Election Commission’s public website, and all trade association
dues are regularly reported.
13
WHAT MOVES US //
Financial
Performance
14 HALLIBURTON // 2013 COR POR ATE SUSTA I NA BILIT Y R EPORT
Guiding Principle
Deliver superior value for our shareholders.
29.4B
21
$
%
Halliburton delivered record revenue
of $29.4 billion.
In the Eastern Hemisphere, we grew revenue by
17 percent and operating income by 21 percent.
2013 FINANCIAL PERFORMANCE HIGHLIGHTS
 Halliburton
set revenue records in every international region
and in both divisions in 2013.
 We achieved record operating income in our Middle East/
Asia region, as well as six of our 13 product service lines.
 We repurchased approximately $4.4 billion, or 10 percent,
of our outstanding shares of common stock and increased
our dividend twice for a total payout increase of 67 percent.
 In 2013, Halliburton was ranked as one of America’s mosthonored companies by Institutional Investor magazine.
Halliburton Chief Executive Officer, Dave Lesar, was
named one of the best CEOs in the magazine’s All-America
Executive Team rankings.
Total Revenue &
Operating Income
Return on
Capital Employed
$24.8 $28.5 $29.4
19
in billions of
U.S. dollars
$4.7
$4.2
percent
15
11
$3.1
11
12
13
Revenue
Operating Income
11
12
13
Includes a $1.0 billion
charge in 2013 and a
$300 million charge
in 2012 related to the
Macondo well incident.
15
FINANCIAL PERFORMANCE //
At Halliburton, we set performance goals that reflect the
multi-year nature of our business and our commitment to
deliver superior results for our stakeholders. During 2013,
we culminated a three-year cycle in which we grew our
deepwater business at double the market rate, tripled
the size of our mature fields business and extended our
unconventionals leadership.
Our Strategy in Action
Halliburton’s growth over the past three years reflects the
strength of the strategy outlined in the previous pages and
the determination of our management team to deliver on
our commitments.
We substantially exceeded our commitment to outgrow the
deepwater market by at least 25 percent, achieving revenue growth
of 31 percent per year in a market that grew an average of 13 percent
annually over the same period. More importantly, by investing in
infrastructure, technology and people, we built a solid foundation
for the future. Our vastly expanded footprint and technological
capabilities have made Halliburton competitive in deepwater markets
around the world, transforming the Company from an emerging
alternative to a compelling choice for customers seeking the
execution certainty and service quality for which we’re known.
16 We also exceeded our three-year growth target in mature fields.
We had committed to triple the size of this business to $2.7 billion
of annual revenue. In 2013, our mature fields revenue reached
approximately $3 billion. At the same time, we have positioned the
Company to meet the growing demand for integrated solutions
and asset management arrangements, which leverage our service
delivery infrastructure, create steady revenue streams and offer
attractive margins in an arena where very few companies can
compete. We have already won awards in Malaysia and Mexico
that will provide a stable business base for several decades.
We have delivered on our commitment to remain the undisputed
leader in unconventionals by responding to the market’s need to
achieve the lowest cost per barrel of oil equivalent. Now a reality,
our Frac of the Future™ hydraulic-fracturing delivery platform
has improved all aspects of surface efficiency, reducing capital
deployed by 20 percent, maintenance costs by 35 percent
and completion times by almost 40 percent at sites where it
is employed. We are now working to extend our competitive
advantage through Battle Red, which uses technology to streamline
processes and reduce non-operating time in the field.
Delivering on Our Commitments
4.4B 67
$
%
We repurchased $4.4 billion or
10 percent of our outstanding
shares of common stock.
We increased our
dividend payout by
67 percent in 2013.
2013 Region
2013 Division
$15,212 $3,909 $5,225 $5,056
$17,506 $11,896
revenue and operating
income in millions of
U.S. dollars
revenue and operating
income in millions of
U.S. dollars
We are proud of our performance against the very high operational
goals we had set for ourselves. However, the ultimate measure of
success is how well we deliver on our financial commitments to
produce superior growth, margins and returns.
During 2013, we grew our revenue to a new record of $29.4 billion
and generated income from continuing operations of $2.1 billion,
or $2.33 per diluted share. We put the building blocks in place
to close the margin gap internationally where our aggressive
expansion has required infrastructure investments that are now
largely complete. With a 67 percent increase in our dividend payout
and the repurchase of $4.4 billion of common stock, we returned
$4.8 billion of cash to our shareholders during 2013.
Extending the Momentum
The undisputed leader in North America, we also have broadbased international operations where we reported revenue
outside of North America comprising 48 percent of consolidated
revenue during 2013. Over the next few years, the balance will
continue shifting as international activity becomes a larger part
of our business.
$2,572 $518 $690
A
B
C
A North America
B Latin America
C Europe/Africa/CIS
D Middle East/Asia
Revenue
Operating Income
$865
D
$2,875 $1,770
A
B
A Completion & Production
B Drilling & Evaluation
Revenue
Operating Income
Through consistent execution of a proven strategy, we have
achieved tremendous momentum and built a solid foundation
for the future.
17
WHAT MOVES US //
Health, Safety
& Environment
Guiding Principle
Conduct operations that are safe and
environmentally responsible.
26 .14 42
%
A 26 percent reduction
in our injury rate was
the largest decline in
the Company’s history.
%
At 0.14, our lost-time
incident rate (LTIR)
was our best since
the Company began
keeping records.
Our global carbon
dioxide emissions per
employee decreased
by 42 percent.
2013 HEALTH, SAFETY & ENVIRONMENT HIGHLIGHTS
 Halliburton
completed a full update of its corporate health,
safety and environmental (HSE) standards during 2013.
 We introduced our “10 to ZERO” Life Rules, which group all
of our HSE standards under 10 headings so that employees
can learn and live by them.
 We saw a 22 percent increase in usage of our global Stop
Work Authority (SWA) program, which plays a key role in
preventing incidents before they occur.
19
HEALTH, SAFETY & ENVIRONMENT //
Our Journey to ZERO
Halliburton has made significant progress on its Journey
to ZERO, a bold vision to achieve ZERO safety incidents,
ZERO environmental incidents and ZERO nonproductive time.
The name “ZERO” expresses our priorities – to acknowledge
the journey, accept the challenge and make no compromises
in execution. Through this initiative, launched in 2011, we
have successfully mobilized employees at all levels of the
organization to engage in this ZERO vision.
The roadmap to ZERO is based on six elements:
1. Effective leadership and commitment
2. Continuous improvement of the
Halliburton Management System™
3. Training and competency of our workforce
4. Providing employees with a mechanism to
communicate and address risks
5. Continuous improvement of our technology
and processes
6. Verification and assurance of performance
As we work with increasingly complex wells in difficult and remote
operating locations, the need for robust execution of safety and risk
management processes is more crucial than ever. We continue to
promote a culture of process assurance through our ZERO plan
elements to ensure that safety is consistently improved, particularly
in our critical focus areas.
20 During 2013, we achieved a strong safety performance with a
26 percent decline in injury rates. This is one of the greatest yearover-year improvements we have ever seen, and it speaks to the
dedication, all across our organization, to ensure that everyone
returns home safe.
While we are pleased with this overall safety performance, we were
saddened by four employee fatalities that occurred during 2013,
in three vehicle-related incidents. Two of the incidents involved
employees driving, and the third occurred while vehicles were
being moved.
Key Achievements
• As we continue to work toward our ultimate goal of ZERO, we
reduced our total recordable incident rate (TRIR) to 0.59 in 2013.
This represents our best performance, and a 70 percent decline,
since the Company began keeping consolidated records in 1999.
Our 2013 lost-time incident rate (LTIR) of 0.14 represents our
best performance, and an 86 percent decline, compared to 1999.
• We reduced both the volume of spills and our carbon footprint
in 2013. Additionally, we enhanced our comprehensive
chemical index and continue to advance our emissions reducing
dual-fuel technology.
• We completed a full update of our corporate health, safety
and environmental standards. These standards define the
minimum expectations for the control of an HSE activity or
system, and serve as a bridge between regulatory requirements
and Halliburton’s operations.
Fatalities
9
Lost-Time
Incident Rate
Total Recordable
Incident Rate
per year
per 200,000 hours
worked
per 200,000 hours
worked
4
5
0.99
0.80
0.59
11
12
13
0.81
0.35
0.26
0.14
Near-Miss
Incident Rate
Recordable Vehicle
Incident Rate
Total Environmental
Incident Rate
5.00
5.00
4.72
0.52
0.50
0.50
0.94
1.04
1.07
11
12
13
11
12
13
11
12
13
per 200,000 hours
worked
0.26
per 1,000,000 miles
traveled
per 200,000 hours
worked
2
1
11
12
13
Contractor
Employee
Incident
Causal Factors
for high-potential
HSE incidents
159
A
B
C
D
153
135
80
A
B
C
D
Management System
Procedures
Work Direction
Training
13
13
International Association
of Drilling Contractors
(IADC) industry average
11
12
13
International Association
of Drilling Contractors
(IADC) industry average
High-Potential
Incidents per Year
for high-potential
HSE incidents
U.S. Hazardous
Waste Managed for
Final Disposal
shown in tons
North American
Electricity Usage
North American
Natural Gas Usage
shown in MMBTU
in cubic meters
447
448
551
142
335.90 323.91 373.17
0.868 0.890 0.880
678
613
452
11
12
13
11
11
12
13
90
12
164
13
shown in millions
of kWh
11
12
13
11
12
Carbon Dioxide
Emissions
CO2 Emissions
Nonproductive Time
Cost of Poor Quality
HSE Fines
million metric tonnes
normalized to metric
tonnes of CO2
per employee
4.467 4.212 3.090
65.96 69.36 40.16
0.86
0.82
0.85
0.44
68.0
11
12
13
11
11
12
13
11
12
13
percentage per year
percentage per year
0.40 0.44
12
13
13
Total Volume
of Spills
and Penalties
in thousands of
U.S. dollars
11
31.1
12
157.4
13
21
HEALTH, SAFETY & ENVIRONMENT //
CONT...
• We introduced the Halliburton “10 to ZERO” Life Rules. The
Life Rules are a simpler set of basic rules that group the HSE
standards under 10 headings so all employees can learn and
live by them. The Halliburton Life Rules are to be used in all our
businesses and operations. They apply to every employee in
every region and every operation.
Ongoing Focus
• While health and safety incident rates improved overall, we
continue to focus on the prevention of repeat incidents and
those caused by lack of process adherence, which are inhibiting
progress on our Journey to ZERO.
• Road safety remains our number one risk. We continue to
enhance our company-wide road safety standards and our
proactive driver safety programs. We are also working in
partnerships to help set industry standards and pool skills
and resources.
• By fully integrating our updated corporate HSE standards into
the way we conduct business globally, we expect to achieve a
positive impact on our performance.
Halliburton Management System
The Halliburton Management System (HMS) is the repository
for our processes, including those relating to process safety,
personal safety, Management of Change (MOC) and Stop Work
Authority (SWA). HMS is a critical component of our ability to
deliver services that are safe and environmentally responsible.
Solid work-level processes and procedures in HMS help employees
work consistently and effectively. To align the organization, HMS is
embedded in our training programs and employee competencies.
Frequent and thorough audits are integral to the HMS system.
Launched in 2012, our HMS internal audit process gained
momentum during 2013. By year end, more than 100 HMS
internal audits had been conducted with operation locations,
and a 94 percent closure rate of actions was achieved. This
has driven increased awareness and compliance with our
management system, culturally embedding it into our locations.
22 10 to ZERO Life Rules
Halliburton’s “10 to ZERO” Life Rules provide a simple set of
basic rules that make it easier for employees to learn and live by
our HSE standards. The Life Rules are:
1 Driving Safety
2 Work Permit
3 Personal Protection Equipment (PPE)
4 Lock Out – Tag Out (LOTO)
5 Confined Space
6 Working at Height
7 Chemical Handling
8 Dropped Objects
9 Hand Tools
10 Lifting and Hoisting
International Organization of Standardization (ISO) certification
of our management system represents a distinct competitive
advantage. HMS is compliant with industry standards (ISO 9000,
ISO 9001, ISO 14000, ISO 14001, OHSAS 18001, API Q1, API Q2
and API RP 75), and it has been approved by Bureau Veritas,
a registrar for these standards.
Many Halliburton locations and operations around the globe
have been ISO certified according to business requirements.
Our facilities in the Latin America region continue to achieve
this certification. In addition, all of our manufacturing locations
operate to ISO 9001 standards.
Health and Safety Performance
INCIDENT INVESTIGATION AND CAUSES
Halliburton conducts rigorous HSE incident investigations and
ranks incidents using a statistical Risk Rank matrix that factors in
severity and consequence. We also track near misses, which are
incidents where the potential for personal injury, property damage
or adverse environmental impact was present, even though none
occurred. We classify a near miss as a High-Potential (HIPO)
incident if the conditions could potentially have resulted in serious
personal injury, property damage or adverse environmental impact.
Investigating and determining root causes of near misses and
HIPO incidents enable us to identify and fix behavioral, process or
equipment issues before they result in incidents. HIPO incident
investigations showed that the most frequent root cause was
failure to follow process. The second most frequent was equipment
failure. We continue to review and update our HMS processes to
incorporate learnings on process safety, and we incorporate this
into employee training on our HMS processes.
During 2013, we updated our requirements and training for incident
investigations, and we implemented our Significant Incident Review
process for both HSE and service quality (SQ). This will lead to
a more robust understanding of systemic issues and the creation
of effective and sustainable solutions. We now have thousands
of individuals trained in the basic principles of conducting the
investigations and causal analysis that create better understanding
of actual or potential incidents and promote sharing of the
lessons learned.
VEHICLE ACTIVITIES
Vehicular travel continues to be the work activity that presents
the highest risk to our employees. We provide defensive-driving
training, evaluate risks by using our established journey-management
procedures and deploy in-vehicle monitoring systems (black
boxes) to monitor driver behaviors. These tools help us eliminate
unnecessary trips and provide opportunities to mentor and coach
our employees on proper driving behaviors and skills.
While 2013 vehicle incident rates were flat year over year, efforts
to improve our performance continue. We improved or created
HSE standards covering such things as pre- and post-trip
inspections, journey management and towing. We continue to
increase our understanding of behaviors with the analysis of data
from the in-vehicle monitoring systems so that we can reward
desired driving behaviors and address those of concern.
STOP WORK AUTHORITY
Our global Stop Work Authority (SWA) program plays a key role in
preventing incidents before they occur. Under SWA, all employees
and contractors have the authority and the responsibility to stop
a task without fear of reprisal if they observe an unsafe action or
condition at a worksite or have a concern regarding the control of
an HSE risk. In addition to preventing incidents, it also promotes
and recognizes proactive participation in our safety culture. In 2013,
we saw an increase of 22 percent on Stop Work Authority usage
from the previous year.
Through our hazard and behavior observation programs,
we continue to give everyone the tools to identify hazardous
conditions and at-risk behaviors in the workplace along with
the means to address the risk. Each year, tens of thousands of
these observations occur and provide the mechanism to stop
an incident before it occurs.
MANAGEMENT OF CHANGE
Our Management of Change (MOC) process, designed to
control change-related risk, is another means of empowering
our employees and key stakeholders to actively contribute to
our success. Because all operational and process changes have
the potential to cause disruption or to create a new hazard, it is
important that they be reviewed, planned and approved before
implementation. The MOC process may be initiated internally
or by external parties, including customers, subcontractors,
regulatory bodies or other entities that have an established
interest in, or relationship with the Company.
23
HEALTH, SAFETY & ENVIRONMENT // CONT...
After a successful roll-out in 2012, the MOC culture took root
across all facets of our organization during 2013. The 3,175 MOCs
initiated last year were more than double the 2012 number, and
we ended the year at more than 300 MOCs per month. This high
participation reflects a broad recognition of the program’s value
by both the Company and its stakeholders.
MOC is a powerful tool on our Journey to ZERO. In combination
with SWA, it is driving the assurance that we are assessing the risk
of changes while planning and delivering our services.
HSE CRITICAL FOCUS AREAS
In 2013, we increased our focus on the processes that present the
most significant risk for HSE, process safety and service-quality
incidents in our operations. These areas are:
1. Barriers: The physical measures (such as packers, plugs, drilling
fluids or cement) that prevent gas or oil from flowing into the
wellbore from the formation and traveling to the surface
2. Hydrocarbons to the surface: Flow of gas or oil to the surface
during activities such as well testing or well cleanup operations
3. Trapped pressure: Equipment in which a release of pressure
could occur (for example, discharge iron, lab machinery,
blowout preventers, pipelines, hoses, tanks or silos)
4. Well proximity: The potential, during drilling, for collision with
an existing wellbore
5. Radiation and explosives: Any surface activities involving a
radioactive source or explosive material
In 2013, we augmented our attention to the Critical Focus Areas
(CFAs) by developing the CFA One Sheets to facilitate process
safety minimum requirements in the five focus areas. The CFA
One Sheets define the minimum process assurance expectations
by personnel and applicable processes for each PSL. When
conducting operations in any of these areas, extra attention and
adherence to our processes is imperative. We expect all employees
to fully understand their PSL CFA One Sheet and be able to discuss
how each process relates to the job task.
24 MPEA PROCESS
To promote employee engagement and manager visibility of
process assurance, we expanded our Management Process
Execution Assessment (MPEA) process during 2013. Performed
by managers during visits to operational locations, the MPEA
helps identify areas of progress and areas in which improvement
is needed. A four-fold increase in these assessments is building
our culture of process assurance. This personal engagement by
management is building our culture of process adherence.
HSE TIERED INSPECTION PROCESS
Along with the update of our HSE standards in 2013, we made a
major effort to include key elements of regulatory compliance and
company requirements into more routine evaluations. During 2013,
we upgraded and formalized the Tiered Inspection process, which
has been conducted for years, to help drive improved adherence to
expectations. A working group consisting of HSE professionals from
around the world developed a standard set of questions that form
the backbone of this process. Since these inspections occur on a
monthly and quarterly basis, they can be used to track trends for
additional systemic interventions.
Environmental Performance
REDUCING ENERGY CONSUMPTION
Halliburton is making an ongoing effort to reduce its consumption
of energy and natural resources. We have developed industryleading equipment and services that reduce or eliminate
consumption of diesel, fresh water and nonrenewable products.
We are continuously improving our performance through
innovation, and we intend to lead the industry in the development
of these advanced technologies.
SPILLS
Our Total Environmental Incident Rate (TEIR), based on occurrences,
remained relatively flat in 2013 while our actual spill volume
significantly decreased. Halliburton’s HSE fines increased in 2013
as a result of a $157,000 agreement between the Company and the
California Department of Pesticide Regulation on an issue regarding
the sale of unregistered and misbranded pesticide. We continue
to drive the need for environmental stewardship and employee
responsibility in pursuing our goal of ZERO environmental incidents.
25
HEALTH, SAFETY & ENVIRONMENT // CONT...
CHEMICAL SCORING INDEX
Halliburton’s Chemical Scoring Index (CSI) ranks and compares
the potential impacts of chemical products used in oil and gas
operations. It scores products in relation to key hazard categories,
which include: human health (e.g., toxicity to humans), safety
(e.g., the potential to cause explosions) and the environment
(e.g., toxicity to aquatic life). It is aligned with the principles of the
United Nations Globally Harmonized System of Classification and
Labeling of Chemicals (GHS) and other well-known regulatory
standards. As a result, a product’s scores can be compared to the
scores of other products within the same product class, providing
our customers with the opportunity to make greener chemistry
choices. Many of our customers consider environmental impact
when designing a fracturing job, so we provide CSI scores for
our fracturing additives as part of any project proposal for those
customers. CSI scoring is a reliable mechanism to aid in the
product selection process.
DUAL FUEL
“Dual fuel” refers to the blending of two fuel types – diesel and
natural gas. Dual-fuel technology decreases the consumption
of diesel fuel with abundant natural gas and reduces hazardous
emissions. It has become part of our evolving Frac of the Future™
initiative, helping to advance our drive for efficiency and reduce
our environmental footprint.
One key customer that is already employing Frac of the Future™
technologies is partnering with us in a pilot program in which a
fully functional system is undergoing rigorous testing at a wellsite
in Oklahoma. The test involves 12 dual-fuel Q10™ pumps capable
of producing up to 24,000 hydraulic horsepower – a full spread
that is 100 percent dual-fuel compatible.
Our work on dual fuels is attracting attention in the media. The
Wall Street Journal published an article highlighting the ongoing use
of natural gas by companies like Halliburton and its customers as
an alternative to traditional methods. Clearly, dual fuel is a win for
Halliburton, for hydraulic fracturing, for shale development, and
for clean and efficient energy use.
26 AIR EMISSIONS
We continually seek ways to increase the efficiency of our equipment
that utilizes combustion engines. The U.S. Environmental Protection
Agency (EPA) has established strict requirements called Tier 4
standards that require new engines to have advanced emissioncontrol technologies. Tier 4-compliant engines emit significantly
fewer nitrogen compounds and particulate matter. Not only are
we complying with this law within the U.S., but we are applying
these same stringent standards to new equipment issued globally.
Examples of equipment that we ensure are Tier 4-compliant
include Q10™ pumps, gathering conveyors, and various pumping
units and blenders.
LEED-CERTIFIED BUILDINGS
As part of Halliburton’s commitment to reduce its consumption
of energy and natural resources globally, we have key construction
projects that meet Leadership in Energy and Environmental Design
(LEED) requirements for energy reduction and other environmental
criteria. In addition, we continually use our industry-leading
equipment and services to reduce usage of fuel, fresh water and
nonrenewable products. Innovative chemical substitution programs,
dual-fuel engines and the continued development of hydraulicfracturing technology all reduce our energy consumption. Our
intent is to lead the industry in the development of these advanced
energy-saving technologies.
GREENHOUSE GASES
In 2013, our global carbon dioxide emissions decreased by
26 percent to approximately 3.09 million metric tons. We attribute
this improvement to two factors, enhanced management practices
and improved methodologies for mapping our global emissions.
When normalized per employee, the year-on-year reduction was
42 percent. Our dual-fuel initiatives, natural gas-powered fleet
vehicles, and strong technology and innovation initiatives will
continue to reduce our environmental footprint.
HYDRAULIC FRACTURING
From time to time, questions arise about hydraulic-fracturing
operations. Halliburton is taking a proactive approach to keep
our stakeholders fully and accurately informed about all aspects
of the hydraulic-fracturing process. Hydraulic fracturing is the
process of creating fractures in specific rock formations deep
beneath the earth’s surface. These carefully placed fractures
enable hydrocarbons to move more easily through the rock and
into a wellbore so that these resources can be brought to the
surface and converted into valuable energy.
Once the well has been drilled, cased and cemented, we design
and implement a hydraulic-fracturing operation to stimulate
the well. Generally we supply the proppant and any additives used
in the fracturing-fluid mixture while our customer provides the
base fluid. We mix the additives and proppant with the base fluids
and pump the mixture down the wellbore to create the desired
fractures in the target formation.
Multiple layers of steel casing and cement in a properly constructed
well prevent fracturing fluids from contacting drinking-water
aquifers. Moreover, the fracturing operations take place thousands
of feet below drinking-water aquifers.
In the 60 plus years during which fracturing technology has been
used, there has been no substantiated evidence that fracture
stimulation has resulted in contamination of underground sources
of drinking water. In 2004, the U.S. EPA conducted an extensive
study of hydraulic-fracturing practices, focused on coalbed
methane wells and the effects on groundwater. The EPA study
concluded that hydraulic fracturing of coalbed methane wells
poses little or no threat to groundwater.
Currently, the EPA is conducting another study of the relationship
between hydraulic fracturing and groundwater that will focus on
the fracturing of shale-gas wells. Halliburton is working directly with
the EPA, industry and others to support this study. The Company
also participated in the development and update of American
Petroleum Institute (API) Recommended Practices that specifically
address the risk management issues accompanying unconventional
well construction and management to ensure safe operations, the
reduction in surface impacts and the protection of groundwater
and the environment. Halliburton was the first service company to
disclose the ingredients of our fracturing fluids on our website. At
www.halliburton.com/hydraulicfracturing, we provide a disclosure
section in which additives and constituents of our fracturing fluids
are listed, along with some of the more common household uses.
It also features information on our new CleanStim® fracturing fluid.
Made entirely of materials sourced from the food industry, the
CleanStim® fluid was used in a number of fracture-stimulation
treatments in 2013.
In addition, through oversight of the Ground Water Protection
Council (GWPC), an organization of state water and oil and
gas regulators, operators disclose ingredients used in hydraulicfracturing operations on the website www.fracfocus.org.
The FracFocus website provides the public with information on
chemicals used on a well-by-well basis. Halliburton fully supports
the use of FracFocus and continues to provide data to our
customers and regulatory agencies to support their needs
for chemical information.
Service Quality
We continue to keep nonproductive time (NPT) below one percent
and cost of poor quality (COPQ) below 0.5 percent globally during
a period of increasingly complex operations. Our leading-indicator
focus incorporated into our ZERO plan will help sustain and further
reduce these low percentages.
HSE Awards and Recognition
IADC COMPETENCY CERTIFICATION
In 2013, we received global IADC (International Association of
Drilling Contractors ) certification for our competency systems.
ENVIRONMENTAL DISTINCTION AWARD
For the third year in a row, Halliburton received an Environmental
Distinction Award from the City of Carrollton, Texas, for the
Company’s continued commitment toward environmental excellence.
Post-Macondo Activities
The semi-submersible drilling rig Deepwater Horizon sank on
April 22, 2010, after an explosion and fire onboard the rig, which
began on April 20, 2010. Halliburton works with both governmental
and nongovernmental organizations to help prevent the future
occurrence of incidents of this magnitude. For example, we work on
task forces associated with the reinforcement and implementation
of new regulatory and industry-driven safety and environmental
standards. Halliburton is represented on the board of directors
of the Center for Offshore Safety, which includes representatives
from operators, service companies, governmental agencies
and industry associations. In addition, Halliburton employees
regularly participate on API committees tasked with
developing recommended practices and standards for safe
and environmentally friendly exploration and production.
27
WHAT MOVES US //
Technology & Innovation
Guiding Principle
Lead the industry in innovation, technology
development and conscientious stewardship of
global resources.
3,553
16 20
Halliburton has 3,553 active U.S.
patents of which 394 were issued
in 2013.
%
>
Our 16 technology
centers across the
globe foster diversity
and collaboration.
Our CYPHER SM Seismicto-Stimulation service
is delivering over
20 percent production
improvement per well.
2013 TECHNOLOGY & INNOVATION HIGHLIGHTS
 Halliburton’s
Enhanced Single-Trip Multi-Zone completion
system was awarded “Best Deepwater Technology” at the
World Oil awards in 2013.
SandCastle® storage units have saved 2.8 million gallons
of diesel fuel over the past two years.
New Product
Revenue
Total Research &
Development Spend
Patents
10.1
401
3,224 3,553
billion U.S. dollars
10.9
10.7
million U.S. dollars
460
588
289
11
12
13
11
12
13
370
12
13
Total
New
29
TECHNOLOGY & INNOVATION //
For decades, Halliburton technologies have been reshaping
the oil and gas industry by meeting evolving needs in a
changing world. With the largest and most readily accessible
energy reserves already discovered and developed, we have
entered an era where big data and sophisticated analytics are
vital to operators in meeting the challenges of increasingly
hostile environments, smaller discoveries and escalating
costs. Our rapid development of innovative products that
are efficient, effective and highly reliable creates a clear
advantage to Halliburton by addressing the most critical
needs of our customers.
We help operators reduce uncertainty and improve success rates
through sophisticated data, analytics and measurement techniques
that provide better information about reservoir characteristics and
well performance. We enable customers to maximize production
from their reservoirs with technologies that improve access to
hydrocarbons. Through innovations that increase speed, safety
and environmental performance, while reducing downtime and
risk, we deliver efficiencies and cost savings. In creating value for
our customers, we also increase value for our shareholders by
generating higher margins and new avenues for growth.
With an in-depth knowledge of complete systems, we are adept
at creating technological workflows and system integrations that
make Halliburton a more efficient and effective supplier. As in
other aspects of our business, our goal is to provide the best total
solutions to our customers while finding ways to make our products
more environmentally responsible.
30 Resources and Results
As our business has become more technology intensive in recent
years, we have significantly increased our investments in both
research and development (R&D) and talent. We have increased
our investment in research and development by more than
$285 million since 2007. We will continue to increase these
investments at a rate that is consistent with our revenue growth.
In the last three years, we have expanded our technology headcount
by 37 percent and our Ph.D. population by more than 50 percent.
We continue to focus on hiring employees with advanced degrees.
We also are actively working to attract more women into our R&D
function to achieve a gender ratio that better reflects the female
population in scientific and research disciplines.
We are seeing the impact of our technology investments in our
new product revenue and in our patent filings and issuances.
Halliburton has 3,553 active U.S. patents of which 394 were
issued in 2013.
Innovation at Halliburton is not limited to the technology arena.
Almost half of our patent filings come from people in other
disciplines. We have implemented a uniform “stage gate” productdevelopment process across our entire organization. In addition to
ensuring consistency of process and terminology across all PSLs
and regions, it supports early identification, accurate assessment
and better management of risk in all aspects of the productdevelopment process including the business-management and
commercialization steps.
31
TECHNOLOGY & INNOVATION // CONT...
Technology Fellows Program
The Technology Fellows Program is an important aspect of
Halliburton’s technology culture. “Technology Fellow” is a position
earned by the Company’s highest-performing engineers and
scientists. During 2013, we added four Technology Fellows, bringing
the total to 11, and we plan to build significantly on that number.
Technology Fellows are acknowledged thought leaders – the best
in their fields – and they help build the Company’s reputation for
innovation and creativity. With a focus on exploring new frontiers,
generating ideas and creating products, they offer guidance on
pursuing emerging technologies and recommending those with the
potential to be industry changing. They also ensure the uninterrupted
transfer of knowledge, identifying exceptional performers and
expanding our resource pool of scientists and engineers.
Deepwater Technology Highlights
In the deepwater arena, we are delivering technologies that help
clients identify new resources, access previously unreachable
resources, build the best wells and protect the environment.
GEOSHELL , a big-data technology, images salt formations that
seismic studies don’t accurately show. The first on the market
with this technology, Halliburton helps clients reduce drilling risk,
liability and lost tools by avoiding salt cavities that are present in
80 percent of deepwater reservoirs.
XBAT™ is our third generation of downhole, acoustic, logging-
while-drilling technology. It provides real-time information on pore
pressure; azimuthal variation in formation properties; and borehole
shape and integrity. This information allows us to maximize drilling
efficiency while maintaining safe drilling parameters.
ICE (INTEGRATED COMPUTATIONAL ELEMENT) CORE™, an
industry first, brings the lab measurements downhole. By directly
measuring hydrocarbon composition in real time, under downhole
conditions, this technology reduces uncertainty for our customers.
It provides information that is critical to evaluate reserves and
optimize the design of completions and surface facilities.
32 GEOTAP® IDS enables customers to take fluid samples while
drilling. It offers lab-quality hydrocarbon analysis under downhole
conditions to reduce sampling time, cost and risks.
DRILLING XPERT™, the most powerful drilling optimization
platform in the industry, fosters collaboration during planning and
drilling to deliver the best wells in the shortest time. It integrates
drilling optimization workflows with engineering packages and
drilling products to deliver superior planning capabilities, increased
efficiency and enhanced decision making in real time.
WELLLOCK® RESIN improves well integrity by forming a secondary
barrier to the primary cement sheath in the wellbore, preventing
water and gas leaks, and ensuring that hydrocarbons do not interact
with any geologic formation, including aquifers. WellLock® resin
is used as a barrier in chemical disposal and storage wells, for
permanent plug and abandonment, and for remediation to
address annular gas flow behind casing.
Mature Fields Technology Highlights
Our mature fields business utilizes many discrete technologies
to address specific challenges and improve production from
an existing wellbore. We also provide integrated solutions that
optimize reservoir management and long-term recovery or exploit
entirely new pay zones using technologies that were not available
when the field was developed.
EQUIFLOW® AUTONOMOUS INFLOW CONTROL DEVICE
effectively addresses the problem of unwanted gas or water
production flowing to the surface, reducing the requirement to
treat, dispose of or store these fluids at the surface. With no moving
parts, electronics or connections to the surface, this technology,
which received Hart Energy’s Meritorious Award for Engineering
Innovation, requires no intervention and automatically ceases
flow restriction if unwanted fluid recedes.
TMD-3D™, a logging tool that measures gas saturation in tight gas
sands behind the pipe, supports our leading position in diagnostics.
This technology helps maximize production from mature fields by
finding new pay zones that could not be identified with the logs
that were run at the time the well was drilled.
PHOTONICS sensing and fiber optic technologies are enabling
operators to monitor flow distribution in mature fields, on-demand
and down to the cluster level, without putting costly tools in the
wellbore and/or interrupting well operations. Water production is
a key parameter to be managed in mature fields. With a state-ofthe-art Photonics Research Center, created two years ago, and
increased investments in engineering and strategic acquisitions, we
are delivering improved sensing performance, sensors that monitor
new physical parameters and allowing reliable deployment in a
wider range of environments. These advances will allow us to not
only quantify water contribution per cluster in real time for faster
interventions, but also to detect the water front before it even
reaches the wellbore, increasing overall hydrocarbon recovery
in mature fields.
Unconventionals Technology Highlights
PUMP-DOWN VISUALIZATION (PDV) is a unique software
product allowing Halliburton’s Production Enhancement and
Wireline and Perforating PSLs to combine real-time data during any
pump-down operations. The Mono-Conductor Downhole Tension
tool (MCTD) is a companion sensing tool designed to partner with
the PDV software. The PDV/MCTD system offers monitoring and
decision-making opportunities during pump-down operations to
improve run-time efficiency, prevent costly nonproductive time
and deliver a well to production sooner.
CYPHER SM Seismic-to-Stimulation service is a collaborative
workflow that effectively integrates geoscience, reservoir, drilling
and completion engineering to allow operators to better predict
and produce unconventional reserves. The service integrates all
available data and is supported by a breakthrough technology suite
using an iterative process that identifies the best well placement
and stimulation designs, critical parameters to the total well cost
and ultimate production. Customers utilizing CYPHER SM are seeing
over 20 percent improvement in oil and gas production per well.
FRAC OF THE FUTURE™, a game-changing concept introduced
three years ago, is now a reality. It encompasses a range of products
and services that reduce the physical footprint, capital cost and
environmental impact of the hydraulic-fracturing process. To
date, we have rolled this system out in over 20 percent of our fleet,
reducing capital deployed by 20 percent, maintenance costs by
30 percent and improving completion times by almost 40 percent
at sites where it is employed.
SANDCASTLE® PS-2500 vertical storage system is powered
by gravity and solar power, reducing diesel fuel consumption.
By the end of 2013, our SandCastle® PS-2500 units had saved
approximately 2.8 million gallons of diesel fuel, dramatically
reducing emissions of carbon dioxide, carbon monoxide, nonmethane hydrocarbons, nitrogen oxide and particulate matter.
Promoting Technology Education
Recognizing that future technology advances will depend on a
new generation of qualified engineers and scientists, Halliburton
supports a number of technology-focused educational initiatives
all across the globe. The following are a few examples:
THE COLORADO SCHOOL OF MINES (CSM) in Golden, Colorado,
received $2.5 million from Halliburton to support a sponsored
research program, CSM’s Halliburton Advanced Technology
Graduate Fellows Program and the school’s new petroleum
engineering building, Marquez Hall. This gift supplements the
Company’s annual giving, which provides support for scholarships,
diversity programs, outreach programs for kindergarten through
12th grade students, faculty support and research.
THE POLYTECHNIC SCHOOL OF MASUKU in Franceville, Gabon,
has received donations of computer equipment, software and
other items. Halliburton is initiating plans to build ties with several
other educational institutions in central Africa.
SINGAPORE’S A*STAR INSTITUTE FOR MICROELECTRONICS
faculty and students are working with Halliburton to develop
rugged downhole electronics packages.
33
TECHNOLOGY & INNOVATION // CONT...
TECHNOLOGY INTERNSHIP PROGRAM where Halliburton hired
over 50 student interns in technology in 2013 and of those who
were offered permanent employment, approximately 70 percent
accepted to become permanent members of the technology staff.
TECHNOLOGY PRESENTATIONS at several universities provided
introductory overviews on industry technologies and trends.
JOB-SHADOWING EXPERIENCES at Halliburton’s offices in
Brazil provided students with a real-world view of technology
development.
THE UNIVERSITY OF WYOMING’S SCHOOL OF ENERGY
AND RESOURCES is collaborating with Halliburton on long-term
sponsored research in the areas of rock physics and multiphase flow.
Mergers and Acquisitions
Halliburton maintains an active program to acquire technologybased companies that can make a significant contribution to our
technology mission. Two examples are:
OPTIPHASE, INC. , a Los Angeles-based manufacturer of fiber
optic sensing systems, gives Halliburton best-in-class solutions
for interferometric fiber optic sensing, including the distributed
acoustic sensing (DAS) technology. The DAS technology turns
every meter of a fiber optic, similar to what is commonly used in
telecommunications, into a fully distributed acoustic/vibration
sensor. This technology enables the potential for on-demand,
time-lapse vertical seismic profiling (VSP); flow distribution
during stimulation and production; well operation monitoring;
wellbore integrity monitoring and more. Optiphase’s capabilities
will be added to Halliburton’s existing fiber optic solutions for
unconventional, mature and offshore plays. These capabilities
will strengthen our offering in terms of data analysis, visualization
and interpretation.
34 INTELLIGENT WELL CONTROLS LIMITED (IWC), a UK-based
company, has developed telemetry technology for use in
construction of multi-lateral wells. This unique and innovative fluid
pulse system transmits, in real time, to a surface data acquisition
system. It is the only fluid pulse technology that provides real-time
wireless data while simultaneously retaining thru-bore access.
Combined with key data sensors, such as downhole toolface
orientation, this technology provides data on demand during
well-construction operations while allowing thru-bore access for
pumping, cementing or intervention operations. The casing-string
orientation tool allows us to install multi-lateral systems without
the need for additional orienting runs, saving two to three trips
per junction. This acquisition demonstrates Halliburton’s strong
commitment to expanding our leadership in multi-lateral
technology while ultimately allowing better reservoir drainage with
fewer wells drilled from the surface, improving industry efficiency
and environmental footprint.
Technology & Remote Operating Centers
Halliburton’s technology centers help us undertake research
and develop technologies to meet our customers’ needs. As the
industry continues to expand globally, our technology centers
serve the critical purpose of placing our technology teams in closer
communication with our client base. For example, we recently
opened two new regional technology centers in Brazil and Saudi
Arabia in an effort to be closer to our customers’ key operations.
Just as important, they provide the benefits of a workforce with
greater depth and diversity in talent, educational backgrounds,
skill sets and solutions.
The Remote Operating Centers (ROCs) are internal Halliburton
centers focused on service quality and process assurance, primarily
supporting drilling activities. Through these more than 20 centers,
we have reduced the cost of poor quality and minimized both
nonproductive time and HSE risks. The use of ROCs allows us to
provide improved safety and efficiency by reducing the number of
operational personnel at the wellsite, thus eliminating associated
costs such as transportation.
35
Guiding Principle
Enhance the economic and social well-being
of our employees and the communities in which
we operate.
100
3.2M 4.1B
The Dow Jones Sustainability™ Indices
awarded us with a perfect score of 100
in Human Capital Development for the
fourth consecutive year.
$
$
In 2013, employees in
17 participating countries pledged
more than $3.2 million to assist
their local communities.
In 2013, Halliburton made in-kind
donations of software through the
Landmark Software and Services
product service line with a value of
$4.1 billion.
2013 GLOBAL CITIZENSHIP HIGHLIGHTS
 The
Halliburton Foundation contributed more than
$3.2 million to schools during 2013.
 In 2013, Halliburton launched WSE – an internal diversity
network – to further employee development, build
leadership competencies and increase retention for
women in the Company.
MVP Awards
MVP Awards
6,399 5,797 6,068
4.93
4.73
5.18
11
12
13
total number
of awards
11
36 12
total U.S.
$ in millions
13
WHAT MOVES US //
Global
Citizenship
37
GLOBAL CITIZENSHIP //
Our Employees
Halliburton innovates, achieves, grows and leads for one
reason: the quality of our people. We attract and retain the
best in the business by embracing diversity, maintaining a
positive work environment and offering rewarding careers
with an industry leader. Through competitive compensation
plans, health benefits and work-life programs, we reward our
employees for their contributions. We have the right people
to develop the right technologies and bring innovative
solutions to the industry – and we value those people
beyond any other asset.
Diversity and Inclusion
Maintaining a highly qualified and diverse workforce is an integral
part of our long-term strategy. The Halliburton community
encompasses more than 80 countries, and more than 75,000 men
and women possessing different educational backgrounds and
representing 140 nationalities. We strive to be a diversity leader
with employees who bring a range of both knowledge and
perspectives to the Company, along with a will to succeed.
Our Diversity and Inclusion Goals
Halliburton has a comprehensive strategy to make diversity and
inclusion as essential to our corporate culture as safety, technology
and integrity. Like our customers, we recognize the value and
business benefits of a diverse workforce. To ensure that the
companies they work with are bringing the best people –
irrespective of gender, nationality or background – customers
38 increasingly value diversity in their business. Hiring and retaining
diverse talent is a business imperative, and it shapes how we
operate and how we win business.
A key focus of our efforts has been increasing gender diversity in
our organization by creating an environment that supports the
hiring and retention of women. While we have made significant
strides, gender diversity and inclusion remains a top priority, which
we are supporting through a variety of programs discussed in
this report.
We provide training to ensure that our global leadership team
creates an environment for diversity to flourish. The web-based
course, “Diversity and Inclusion for Managers and Supervisors”,
includes five learning areas. It is designed to enhance awareness
and help leaders educate their teams on the critical diversity and
inclusion factors that make a difference in our workplace.
We strive to maintain a global culture of inclusion. Built around
the theme line, “Great minds don’t always think alike,” our ongoing
internal campaign reminds and encourages employees to make the
most of the differences in our cultures, generations and genders.
We continue to ensure that our branding – both internally and
externally – conveys the importance of diversity and inclusion
at Halliburton.
Gender Diversity
With an ongoing focus on gender diversity, we have launched
internal programs and partnered with external organizations to
support career and leadership development for women.
39
GLOBAL CITIZENSHIP // CONT...
WOMEN SHARING EXCELLENCE (WSE): Launched in 2013,
WSE is an internal diversity network designed to further employee
development, build leadership competencies and increase
retention for women in the Halliburton organization. Sponsored
by Executive Vice President & CFO, Mark McCollum, WSE
membership is open to all Halliburton professionals regardless
of gender. The network serves as an organizational resource
to provide personal support in career development and self
development through mentoring, leadership and professionaldevelopment training, community-service events, spotlight
recognition and workplace conversation series.
LEADERSHIP DEVELOPMENT: Helping high-potential women
develop their leadership potential is a key part of our gender
diversity initiative. It is focused on female employees in operations,
engineering, geoscience and technology who have been identified,
through Halliburton’s succession planning process, as having
leadership potential. Selected employees receive mentoring by
managers who foster their career development. At the same
time, Human Resources’ senior director of Corporate Affairs
and Diversity Initiatives works with global human-asset
managers in helping these women complete robust leadershipdevelopment plans.
WOMEN’S GLOBAL LEADERSHIP CONFERENCE: In 2013,
37 Halliburton employees attended the Women’s Global Leadership
Conference in Energy and Technology, held in Houston, Texas.
Attended by almost 700 active oil and gas professionals, the
conference is the largest women’s event in the industry, and the
Halliburton delegation was the largest corporate representation.
The Company has supported this event for several years, with
executives participating in panel discussions and presentations.
ENHANCED PARTNERSHIPS: Halliburton participated in more
than 60 global events to promote women and minorities at precollege, college and professional levels. As a member of the Society
of Women Engineers’ (SWE) Corporate Sponsorship Council,
the Company participated in the organization’s 2013 national
convention, which made history by celebrating the most attendees
at a SWE conference to date. Halliburton also participated in the
following events: “A Conversation About What Women Can Do”,
hosted by the Women’s Resource of Greater Houston; the Calgary
Women in Energy golf tournament; the Women’s Leadership
Forum and the Women of Color Forum. In addition, the Company
40 hosted a Women’s Network roundtable discussion, and a series
focused on Engaging Men in Gender Initiatives with Catalyst,
a nonprofit organization.
Additionally, Halliburton had an extended presence in its Europe
Sub-Saharan Africa Region with a focus on local veterans,
university outreach and those at mid-career levels through its
sponsorship of the Women’s Leadership Luncheon at University
of Aberdeen in Scotland. The Company also sponsored the WISE
awards in London, which recognized women in science, technology
and engineering for their contribution to industry and innovation.
Supporting Small and Diverse Businesses
As Halliburton’s business in the U.S. continues to expand, it is
important to establish a supply chain that can grow with us and
support our evolving supply demands. Halliburton is committed
to supporting small, minority- and women-owned businesses
in the communities where we operate. Just as the diversity of
our employees enhances our business culture, diverse suppliers
improve our supply chain, allowing us to better manage our
business and contribute to the communities where we work
and live.
We have continued to focus our efforts in the emerging U.S. shale
markets, working diligently to ensure increased participation of
local, small and diverse businesses. During 2013, Halliburton joined
Chevron, CONSOL Energy, EQT Corporation and Shell to host
the second annual Supplier Diversity Matchmaking event in
Washington County, Pennsylvania. This event matches each
company’s specific operational needs with a variety of regional
and national suppliers who want to do business in the Marcellus
and Utica shale basins of the U.S.
More than 140 companies were present for the event, and
Halliburton representatives met with approximately 30 diverse
suppliers. We understand the importance of utilizing businesses
that offer quality products and services on a competitive basis,
and our procurement teams will continue to seek to provide the
maximum opportunity for their participation in our procurement
and sourcing processes.
In addition to building relationships with regional suppliers, the
event sourced local small businesses and generated an immediate
economic boost, with more than $40,000 spent on services such
as catering, signage, event coordination and hotels.
Diversity & Inclusion Awards

Halliburton was named as a “Top Energy, Gas and Oil Company”
by Professional WOMAN’s Magazine.

Hispanic Network Magazine named Halliburton as one of its
Top Energy, Gas and Oil Companies.

Halliburton was named as a finalist for the National Association
of Colleges and Employers’ (NACE) Innovation Excellence Award
for Diversity.

Halliburton ranked among the “Top 50 Employers” in Woman
Engineer Magazine’s 22nd annual listing.

Halliburton ranked number six on the 10th Annual Innovations in
Diversity Awards in Profiles in Diversity Journal.

Myrtle L. Jones, senior vice president of Tax, was named one of
12 “Women Worth Watching” by Diversity Journal.

Halliburton received an Eagle Ford Excellence Award presented
by the South Texas Energy and Economic Roundtable in the
category of Community & Social Investment for companies
with more than 250 employees.
Percentage of Local Nationals in Workforce
North America
99%99%99%99%
Latin America
94%94%94%93%
Europe/Africa/CIS
88%89%88%88%
Middle East/Asia
72%73%72%72%
10111213
Employees Percent of Total Workforce
We recognize the importance of economic development in the
communities where we live and work. Our ability to leverage a
diverse group of suppliers with distinct capability, flexibility and
skills makes our Company stronger. We will continue to leverage a
diverse supply base to meet the demands of our business and the
needs of our customers in the communities where we operate.
Talent-management Strategy
Our people create our success. They provide the innovation,
expertise and superior service quality that drive our growth. In our
industry, the demand for superior talent far exceeds the supply,
and we face an ongoing challenge to attract, retain and develop the
people who can set us apart from the competition. That’s why we
have an aggressive and proactive talent-management strategy to
identify potential leaders and prepare them for leadership roles.
People, Performance and Results
Each year, all Halliburton employees agree to specific goals and
objectives in several key areas: ethics; financial accountability;
health, safety and environment; service quality; and diversity
and inclusion. Employees work with their supervisors to create
competency-development plans based on established requirements
for their current positions and also for possible future positions.
Employees’ measurable progress toward these goals is linked to
compensation, and they meet with their managers for assessments.
Through ongoing review, we are finding ways to make the system
more effective. We have increased the alignment of individual
performance objectives with corporate objectives and improved
the visibility of business-performance results. We are continually
improving the guidance provided to managers on performance
management, feedback and coaching. This is part of our journey
toward building an even higher-performing organization.
Succession Management
North America
49% 53%50%48%
Latin America
14%
Europe/Africa/CIS
21%18%19%19%
Middle East/Asia
16%14%19%19%
10111213
13%
18%
16%
At the heart of Halliburton’s talent-management strategy is
our succession-management process. Through this thorough
assessment of leadership competencies, we identify, develop and
retain a sustainable bench of skilled leaders. The process provides
a consistent way to identify and accelerate the development of key
leadership talent within the Company. It also enables us to identify
areas where potential leaders may have knowledge gaps.
41
Applause Awards
48,716
29,514,885
$5,504,897
Nominations approved
Points issued
Total dollar value awarded
The Talent Profile summary supports our succession-management
process by tracking the progress of high-potential employees.
Managers use it to complete online Succession-Management
Leadership Assessments and Replacement Charts. In addition to
supporting the Company’s strategic talent-management goals, the
Talent Profile summary gives employees a tool for taking control of
their careers.
Training and Development
Committed to investing in its employees, Halliburton has one of
the most respected training programs in the industry. We offer
numerous structured programs globally, including: competency
development, online and classroom training, career planning,
educational assistance and leadership development. Halliburton
has several fast-track development programs including the Field
Operations Development Program, which runs in several countries
in the Eastern Hemisphere. The primary objective of this program
is nationalization, through hiring graduates and engineers and fasttracking their training and development for field operations roles.
Other fast-track programs are the Supply Chain Management
Program and the Human Resources Leadership Program.
COMPETENCY PROGRAM: Halliburton is committed to
utilizing competent employees who can confidently execute our
established processes to deliver services and products that meet
customer requirements. A business-driven approach to employee
development, our competency program is currently utilized by
the product service lines and support functions within our global
organization. It provides a systematic approach to maintaining
a strong, capable workforce to execute our Company strategy.
The program fosters an environment for ongoing development
that sustains our workforce capability and continuous growth.
The investment in our employees’ competence drives safe and
consistent delivery of superior performance.
U.S. Adoption Program Data
Dollars Paid
$19,523
$41,669
2012
2013
U.S. Employee Education Assistance Program
Dollars Paid $1,303,556
$1,424,056
2012
2013
Training Courses
Completed
Employee Training
1.078
1.084
1.467
3.94
3.86
4.53
11
12
13
11
12
13
Completions
in thousands
million hours
Currently, more than 60,000 of our employees are utilizing
Halliburton’s competency program, which is aligned with customer
requirements, industry standards and applicable laws and
regulations, to take ownership of their own development and
the development of others. In 2013, Halliburton was granted full
accreditation for its Global Competency Assurance Program,
Business Leadership Development Course
Number of Attendees
Year
becoming the only full-spectrum energy services company with
full competency accreditation for every position in all of the
Company’s business lines and support functions worldwide.
TRAINING CENTERS: Halliburton has 14 training centers located
around the world to support our global business. The Company’s
experienced technical and operational employees serve as trainers,
using advanced communication systems and e-learning tools to
provide learning opportunities for all employees.
HALLIBURTON UNIVERSITY: Halliburton University is a
comprehensive online tool that provides a streamlined competency
system. Employees use this system to assess and document
competency levels and to identify the training that will help move
them to the next career level. The site is the central location for all
career-development activities, including role-based competencies,
competency assessments, technical training and online learning.
COLLEGE OF SHALE: The College of Unconventional Resources -
Shale covers engineering principles around the shale development
cycle using Halliburton processes and solutions. Aligned with
Halliburton’s CYPHER SM process, the college is divided into
five comprehensive tracks to cover the life cycle of the asset:
reservoir characterization; drilling optimization; wellbore
completion; fracture evaluation and optimization; and production
analysis. The training in each track combines lectures by Halliburton’s
and the industry’s most recognized subject matter experts in shale
development topics, comprehensive use of Halliburton’s shale
software solutions at each stage of the development cycle,
practical exercises, formal assessments and final projects. All
training offerings are open to our technical professionals, technical
advisors and customers.
FRONTLINE SUPERVISOR TRAINING: Designed for Halliburton
supervisors, this three-day intensive course specifically addresses
the basics of supervising employees in a frontline environment.
Frontline Supervisor Training is mandatory for all frontline
field supervisors, and is to be completed after assuming the
supervisory role.
Level I Attendees Level II Attendees Level III
Attendees
2011
545175 54
2012
597225 48
2013
762289 82
BUSINESS LEADERSHIP DEVELOPMENT, LEVELS I–III:
In partnership with the Mays Business School at Texas A&M
University, Halliburton provides advanced Business Leadership
Development training through courses taught at the business
school’s Center for Executive Development. The classes help
prepare participants from all corners of the globe for executivelevel decision making.
President’s Leadership Excellence Program
In this year-long development program for high-potential
employees, participants work on project teams addressing specific
Company-related business challenges. Each team works on its
assigned project all year, analyzing, researching and formulating
a workable solution, which is then presented to the Executive
Committee and all of the Company’s vice presidents. The best
solutions are pursued for possible implementation.
Employee Benefits and Programs
Halliburton is dedicated to the well-being of its employees. In
addition to providing a safe work environment and comprehensive
employee benefits, we offer several programs that help employees
cope effectively and constructively with issues that arise at work
and in their personal lives.
DISPUTE RESOLUTION PROGRAM: The Dispute Resolution
Program (DRP) provides employees with both formal and informal
processes for resolving workplace issues. Trained, independent
ombudsmen work with all parties involved to resolve disputes
quickly and fairly, repair damaged relationships and foster a better
working environment. The DRP adheres to the International
Ombudsman Association’s Code of Ethics and Standards of
Practice, which mandates confidentiality and neutrality. The
process is designed to prevent retribution in any form. In fact,
evidence of purposeful retribution is grounds for immediate
termination of employment. This program is available where
permissible by law.
EMPLOYEE ASSISTANCE PROGRAM: The Employee Assistance
Program (EAP) provides employees and their families with referrals
to resources that can support and assist them in handling a wide
range of issues. Employees can contact the EAP by phone or in
43
person. Through our confidential process, a trained professional
makes a preliminary assessment and either helps directly or
provides an appropriate referral. This program is available where
permissible by law. Among the issues addressed are:
• Marriage, family, eldercare, separation and divorce
• Personal tragedy, death and grief
• Legal and financial issues
• Stress, self esteem and depression
EMPLOYEE WELLNESS PROGRAM: Halliburton continues to
evolve and expand the initiative on wellness. In addition to on-site
Biometric Screenings and online Health Risk Assessments, the
Company has added a Comprehensive Preventive Examination for
U.S. eligible employees over age 40. Activities focusing on fitness,
nutrition, tobacco cessation and top diseases identified via claims
data are emphasized through the implementation of Wellness
Champions internal to the Company. The vision is to positively
impact the health and lives of employees and dependents to
enhance safety, increase productivity and optimize their potential
and well-being.
Rewarding Innovation and Excellence
The Applause program invites all employees to recognize
colleagues who exhibit outstanding performance in one of four
designated categories: Technology Innovation, Ethical Behavior,
Safety Leadership and Service Quality. In 2013, the Company
distributed a total of 48,716 Applause awards, representing a
value of more than $5.5 million.
Maximizing Value-added Performance (MVP) awards give
organizations within the Company additional options for
recognizing outstanding achievement by individuals or teams.
These awards emphasize efforts that benefit the Company
and its stakeholders. A total of 6,068 MVP awards, worth over
$5 million, were made in 2013.
Adoption Benefits
As we continue to update our benefits programs to better serve a
diverse workforce, we now provide benefits for adoption leave and
adoption expenses for our U.S. employees.
44 Our Communities
Investing in our communities has been central to Halliburton’s
corporate culture since our Company was founded. Whether
it is revitalizing our neighborhoods, supporting local youth,
hiring and sourcing locally, or raising awareness for the
treatment and eradication of disease, Halliburton and
its employees take direct and effective action to make a
difference in every location where we have a presence.
Our commitment to good corporate citizenship is a
fundamental part of creating sustained value for society,
for our Company and for our stakeholders.
Halliburton takes a global stance as a generous and engaged
corporate citizen by making significant donations to charities,
educational institutions and other organizations that contribute
to the well-being of communities and individuals. Applying our
resources in this way enables us to make a tangible difference in
countless lives around the globe. The following are just a few
examples of causes that we have supported:
TARGET HUNGER: A nonprofit organization in Houston, Texas,
distributes more than five million pounds of food annually and
serves more than 15,000 people each month. The food distributed
by Target Hunger volunteers is donated by local grocery stores,
gathered from the community gardens or obtained from the
Houston Food Bank. It then has to be transported to the Target
Hunger food pantries. Halliburton joined with two other corporate
donors to pay for a new delivery truck specially outfitted for food
deliveries. The truck will enable Target Hunger to serve more
people by reducing the number of trips needed to reach all of the
locations, including senior day centers, which represent an efficient
method of food distribution. Adding impact to the Company’s
financial support, a group of Halliburton volunteers delivers meals
in their own vehicles, to senior citizens on the third Friday of each
month. They know the clients by name, and in many cases have
learned their personal interests.
Despite its name, hunger is not the only problem that Target
Hunger takes on. It provides training on computers as well as
classes that help clients learn English or prepare for the high school
equivalency exam. It also offers programs on food storage and
safety, nutrition, cooking and other crucial subjects.
45
COMPREHENSIVE COMMUNITY-BASED REHABILITATION
IN TANZANIA (CCBRT): A locally registered nongovernmental
organization first established in 1994. It is now the largest
indigenous provider of disability and rehabilitation services in the
country. Halliburton East Africa marked World Malaria Day in 2013
by partnering with CCBRT’s disability hospital in Dar es Salaam,
Tanzania, to distribute more than 800 mosquito nets to ensure that
its patients could sleep safely without fear of contracting malaria.
According to World Health Organization estimates, malaria cases
number more than 200 million per year, and the disease accounts
for over 600,000 deaths annually, mostly among children living
in Africa.
In-Kind Donations
Through its Landmark Software and Services product service line,
Halliburton gave schools and universities in-kind donations of
software valued at more than $4 billion during 2013. The software
gifts are used as learning and teaching aids, helping engineering and
geosciences students gain valuable, hands-on experience in new
and emerging technologies that are critical to the energy industry.
Halliburton Foundation
Established in 1965, the Halliburton Foundation is a nonprofit
organization that promotes educational and charitable purposes,
and supports education at all levels, through employee matching
gifts, direct grants and scholarships. In 2013, the Halliburton
Foundation contributed more than $3.2 million to schools and
higher-education institutions for use in enhancing educational
opportunities for students in kindergarten through 12th grade
and at institutions of higher education.
Halliburton partnered with HOPE worldwide, an international
charity, to provide Nigerian families with access to clean water. With
funding from the Halliburton Foundation, the Company purchased
600 LifeStraw® family water purifying units. Each is capable of
filtering up to 18,000 liters (4,754 gallons) of water, enough to
supply a family of five with microbiologically clean drinking water
for three years. Halliburton employees, accompanied by HOPE
worldwide representatives, distributed the units to households in
the Oginigba and Rebisi communities of Port Harcourt, Rivers
State, Nigeria, which were selected because of their acute need
for fresh water.
These units, along with education and training provided to recipients
on unit maintenance and the importance of drinking only filtered
water, enable families to take charge of their own health. The ability
to filter water has a particularly significant health impact for pregnant
mothers, children under three years of age and individuals with
compromised immune systems. For those 600 families, life will be
cleaner, healthier and safer – from the food they wash, to the water
they cook it in, to the clean hands that reach for a glass of water.
Employee Giving
Our employees are well known for the energy they bring to the
communities where they work and live. People around the globe
have come to recognize Halliburton and our employees for the
desire to give back to our communities and enhance the well-being
of our neighbors.
Halliburton’s employee giving program, “Giving Choices”,
encourages and facilitates charitable giving while allowing
employees to select the charities they want to support. In addition
to providing a match for all eligible employee donations, the
Company also pays administrative costs. In the U.S., employees
choose from more than 1,450 participating charities, and if their
preferred charity is not on the list, they can nominate it to be
included. Other countries select key organizations to receive
their donations.
In 2013, employees in 17 participating countries pledged more than
$3.2 million to assist their local communities. The life-changing
effects of these gifts can be seen all over the globe.
Employee Volunteerism
Clean Water in Nigeria
Wearing our red “The Energy to Help™” T-shirts while we volunteer
makes it easy for our neighbors to see how important it is to our
employees to put sweat equity into making life better for everyone.
Through our Community Relations web page, employees can
search for volunteer opportunities in their area or use the site to
initiate their own projects and build volunteer teams.
Halliburton has worked in Nigeria for more than 45 years, and
the majority of our employees working there were hired locally.
We have a commitment to those employees – and to their
communities – to take an active role in improving the quality
of life in any way that we can.
Employees around the world have donated thousands of volunteer
hours to organize fundraisers for research on devastating diseases,
to assist children and the elderly, to participate in environmental
improvement projects and to support hundreds of other
community initiatives.
The following are just a few examples of the causes they
have supported:
2013 Corporate Giving
U.S. dollars
$3,251,242
$4,075,470,707
$56,343,356
$4,135,065,305
Halliburton Foundation
In-Kind Donations
Direct Cash Donations
Total Donations
BAKERSFIELD HOMELESS CENTER: For the fifth year in a row,
employees in Bakersfield, California, joined forces with a local
television station to hold a barbecue fundraising event outside
the television station’s studios – raising nearly $18,500 for the
Bakersfield Homeless Center, which supports people in crisis
while helping them achieve self-sufficiency.
SPRING CLEAN AND TRASH BASH: For the second year in a row,
Halliburton employees took part in the annual Burleson County
Big Spring Clean and Trash Bash in Caldwell, Texas. Halliburton
has long played an important role in the city and is always looking
for opportunities to give back. During the week-long event, local
businesses, churches, clubs, neighborhood groups, schools and
families organize volunteer groups to clean up litter or adopt a
beautification project to show pride in Burleson County. By the
time the Halliburton team was done, it had hauled away about
10 truckloads of trash and branches.
CHILDREN’S DAY: In Bolivia, employee volunteers celebrated
Children’s Day with students at the 29 de Diciembre School in
Santa Cruz de la Sierra, Bolivia. A key focus of this Children’s Day
celebration was to teach children about their basic rights – such as
having a name, a nationality, and access to education and health care.
FLOOD RELIEF: Following flooding that ravaged Colorado, washing
away homes, destroying roads and infrastructure, and claiming
lives, Halliburton teams provided many forms of assistance in many
locations. They delivered bottled water to emergency workers in
Boulder, to the stricken communities of Firestone and Fredrick, and
to shelters in the City of Longmont, which had received evacuees
from the affected areas. They donated Wal-Mart gift cards to help
evacuees who had been left with nothing and served barbecue
plates to evacuees and emergency responders in Milliken. Our
crews also helped families in Longmont with clean-up. They
cleaned out basements, ripped down damaged drywall and wet
insulation, stacked debris and even replaced a driveway carried
away by floodwaters.
Halliburton Charity Golf Tournament
HEART AND STROKE WALK: The 2013 American Heart
Association (AHA) Heart and Stroke Walk drew more than
500 Halliburton employees, family members and friends who
walked five kilometers to take a stand against heart disease and
stroke. Halliburton, through a donation from the 2013 Halliburton
Charity Golf Tournament, was proud to serve as the local
My Heart, My Life sponsor of the walk. Together, the Halliburton
team raised $236,765 for the AHA.
RUN FOR A CURE AFRICA: Halliburton employees and family
This year marked the 20th Annual Halliburton Charity Golf
Tournament, and the Company marked the anniversary by
setting a new fundraising record with contributions of more than
$2 million that will benefit 18 nonprofit organizations across the
U.S. Halliburton partners with vendors, suppliers and employees
to host this prestigious event in Houston, which over its history,
has given more than $8.5 million to U.S. charities from participant
donations and fees.
members were among participants in the fifth Annual Run for a
Cure Africa in Lagos, Nigeria. The event raises funds to fight breast
cancer all across the continent. Breast cancer is the second-most
common cancer in Africa, and while it is 98 percent treatable if
detected early, Nigeria has an 80 percent breast cancer mortality
rate. In addition to running and walking at the event, Halliburton
volunteers worked at the registration desk distributing materials,
T-shirts, numbers and drinks to the participants, and cheering them
on throughout the run and as they crossed the finish line.
47
Guiding Principle
Be transparent in reporting and validating
our progress.
88k 14
>
Our hydraulic fracturing
microsite has had more than
88,000 home page visits by
external visitors since going
live in 2010.
Halliburton provides
its Code of Business
Conduct in 14 languages.
77,000
+
Material Safety
Data Sheets
Halliburton shares greater than 77,000 material
safety data sheets in up to 22 languages.
2013 TRANSPARENCY HIGHLIGHTS
 Our
material safety data sheets utilize the United Nations
Globally Harmonized System of Classification and Labeling
of Chemicals.
 With 28,862 documents, the Halliburton website provides a
valuable source of information for the public, our employees
and our customers.
 Also available online are 77,769 material safety data sheets,
which provide detailed chemical hazard information on all of
our products.
WHAT MOVES US //
Transparency
49
TRANSPARENCY //
It is important to Halliburton to be transparent in reporting
and validating our progress. We strive to provide stakeholders
with in-depth and relevant information. Doing this enables us
to be better stewards of resources, and set goals and targets
for future success. We provide information in a transparent
manner throughout our company and are striving to become
a model for our sector.
Board of Directors Reports
Thorough and timely reports to Halliburton’s board of directors are
the key tools that enable the directors to do their work effectively.
Accurate information allows the board to see a broad view of
Halliburton and to make decisions and offer guidance accordingly.
Ethics and Code of Business Conduct
Internal Halliburton individuals or groups that report regularly to
the board of directors and/or to its committees are: controller; chief
ethics and compliance officer; Code of Business Conduct manager;
Enterprise Risk Management, treasurer; Audit; Health, Safety and
Environment; Law; Tax; Corporate Development (on specific deals
or opportunities) and operations leadership (as needed).
50 The chief ethics and compliance officer makes an annual report to
the board’s Audit Committee on issues related to ethics and the
Code of Business Conduct. The committee is also informed of any
fraud that has been uncovered involving $50,000 or more.
Enterprise Risk Management
Halliburton’s Enterprise Risk Management (ERM) process is
coordinated by an interdisciplinary group, headed by the treasurer,
that reports to the board of directors annually. ERM projects and
initiatives are carried out by the working team, which includes
members of the Risk Management group and representatives from
our Internal Controls, Treasury, Operations and Law departments.
The program classifies the Company’s enterprise risks (both
financial and operational) into risk categories that are assigned to
corresponding risk owners who are responsible for management
and control of risks within their functions. Functions are reviewed
periodically to monitor risk-mitigation activities and to identify
changing risk profiles and emerging issues.
Shareholder Engagement
We take seriously our responsibilities as an industry leader. Our
suppliers and customers, the financial community and government
agencies look to us as a trusted expert. We participate prominently
in major industry-related events throughout the year.
51
TRANSPARENCY // CONT...
The following are several 2013 events in which Halliburton
executives made presentations, participated in panels, or had
other key roles:
• Credit Suisse Energy Summit
• Howard Weil Conference
• UBS Global Oil & Gas Conference
• Credit Suisse London Energy Conference
• RBC Capital Markets Conference
• Tudor Pickering Summer Energy Conference
• Simmons European Energy Conference
• Barclays CEO Energy Conference
• Bank of America Merrill Lynch Global Energy Conference
• Cowen Securities Conference
Internal Assurance Services
Internal audit functions exist within Halliburton to provide
assurance on adherence to key processes and identify
opportunities for improvement in those processes. In an effort
to optimize internal audit activity during 2013, the Company
consolidated all internal audit responsibility to a single function,
Internal Assurance Services. The function has dual administrative
reporting to the Company’s chief financial officer and chief
operating officer. It covers Internal Audit and Controls as well as
HSE and Service Quality audit programs.
Internal Audit and Controls focuses primarily on financial
processes. The vice president of Internal Audit and Controls
formally reports to the board’s Audit Committee five times a year,
which includes a private session, and also attends the four quarterly
meetings with the Audit Committee to review the Company’s
10Q and 10K filings. Reports include overall audit rating trends;
any significant findings or conclusions from the audits; the annual
risk-assessment and audit plan and progress against the plan; and
head count and conclusions on quarterly assessments of internal
control over financial reporting.
52 HSE audit programs also utilize a risk-based process of assessment.
The HSE audit assesses operations, practices and HSE management
systems throughout the Company. Additionally, it evaluates
consistency with HSE responsibilities under Halliburton’s Code of
Business Conduct, local and federal regulations, and Company
HSE standards. Audit findings are formally reported to the
appropriate levels of management and functional support teams,
and corrective actions are tracked and monitored until completed.
Trending of HSE audit findings is evaluated and reported to the
HSE and Sustainable Development Executive Committee as well
as the board of directors HSE Committee.
Our SQ audit process, which includes external SQ audits on our
suppliers, provides a cost-effective way to continuously improve
our management systems, manage risk and reduce inconsistencies
in service delivery. These audits are also used to confirm that our
processes are aligned, and to ensure that new processes and
current HMS processes meet ISO and contractual standards
(when applicable) as well as the new API Q2 standards.
Ethics Helpline and Website
Our employees are empowered to report any illegal activity, or any
violation, either observed or suspected, to the Halliburton Code
of Business Conduct (COBC). The Company provides an Ethics
Helpline that is administered by an independent third party and
operates 24 hours a day, 7 days a week, 365 days a year, in multiple
languages. Callers may remain anonymous if they prefer. The
information provided by the caller is promptly forwarded to the
Halliburton Code of Business Conduct group in Houston, Texas,
for review and appropriate action.
Employees and the public can contact the Halliburton board of
directors, using contact information provided on the Company’s
website. The site provides a toll-free phone number along with
mailing and email addresses for written communications. All
complaints and concerns are received and processed by the Code
of Business Conduct group and are referred to either the board’s
Audit Committee or the board’s lead director, as appropriate.
HSE and Sustainable Development
Executive Committee
As head of the HSE and Sustainable Development (SD) Executive
Committee, the chief HSE officer reports to the board’s HSE
Committee at each committee meeting. Standing items on the
agenda include annual HSE and SD strategies, HSE statistics, a
review of the HSE Audit program and a review of sustainability
efforts. At every meeting, any significant HSE incidents are
examined by the committee, with particular attention to violations
of laws and regulations as well as the Halliburton Code of Business
Conduct and other pertinent HSE standards. The committee
may request further information or call on individuals involved
to provide additional detail. If appropriate, the committee may
recommend follow-up actions.
Technical Transparency and Disclosure
Halliburton supports disclosure, and was the first company to
disclose the composition of hydraulic-fracturing fluids to the public.
This information can be found on the website, www.halliburton.
com/hydraulicfracturing. We have proactively developed processes
that provide our clients with information on the chemical
components of our hydraulic-fracturing fluids, supporting their
compliance with state laws and with the standards established
by the Chemical Disclosure Registry. Other key efforts include:
• Continued support of voluntary and U.S. state regulatory
reporting requirements, mainly through participation in
FracFocus.org, the disclosure clearinghouse sponsored by
the Groundwater Protection Council and the Interstate Oil
and Gas Compact Commission
• Support of Canadian reporting requirements through
www.FracFocus.ca
• Full disclosure of the chemistry used in Western Australia
and the ecological effects
• Work in conjunction with operators to provide publicly
disclosable chemistry in the South Coast region of California
• Efforts to create a line of chemistry that is fully disclosable
and transparent
Chemical Transparency
Halliburton’s material safety data sheets (SDS, formerly called
MSDS), which provide detailed chemical hazard information on
all of our products, are available online. We have been very active
in being transparent and informative about our chemistry and
have harmonized our SDS system using the new United Nations
Globally Harmonized System of Classification and Labeling
of Chemicals (GHS). The website houses 77,769 documents,
which include the following: 51,858 Halliburton-owned SDSs
in 22 languages; 18,848 vendor-supplied SDSs in 13 languages;
3,892 BARATAGs (one-page summarized SDSs) in 12 languages
and 3,171 chemical labels, all of which are easily searchable. The site
is a valuable source of information for the public, our employees
and our customers. We continuously work to provide the latest
HSE information for our products and updated approximately
20,000 (M)SDSs during 2013 to achieve our goal to provide the
most current information to our customers and employees.
Global Reporting Initiative
The Global Reporting Initiative (GRI) provides a globally
recognized sustainability reporting framework that is commonly
used by companies to benchmark their reporting schema. We
have adopted many aspects of the GRI format in our reporting
mechanisms, including an index at the end of this 2013 Corporate
Sustainability Report, as well as an external website dedicated
to sustainability-related performance data. The adoption of the
GRI framework validates our reporting practices and helps us to
continually improve reporting and transparency.
53
Guiding Principle
Engage our stakeholders to help achieve results
that are compatible with our stated principles.
42
Industry
Events
Company executives participated
prominently in 42 major industryrelated events in 2013.
441M
$
60
+
Halliburton participated in more than
60 global events to promote women
and minorities at pre-college, college
and professional levels.
Halliburton spent $441 million
with minority- and womenowned suppliers.
2013 MUTUAL COLLABORATION HIGHLIGHTS
 Halliburton
co-hosted the second annual Supplier Diversity
Matchmaking event in Pennsylvania, which matched the
needs of five major energy companies with diverse regional
and national suppliers who want to do business in the
Marcellus and Utica shale basins of the U.S.
 Halliburton provided a $2.5 million grant to the Colorado
School of Mines (CSM) to support a sponsored research
program as well as CSM’s Halliburton Advanced Technology
Graduate Fellows Program and the school’s new petroleum
engineering building.
WHAT MOVES US //
Mutual
Collaboration
55
MUTUAL COLLABORATION //
Our stakeholder groups – employees, customers, suppliers,
host governments and neighbors – have a stake in our success,
and each impacts our business and our reputation in its own
unique way. All of these groups are affected by the way we
conduct ourselves in every aspect of every endeavor. We expect
our employees to build relationships with all of our stakeholders
that are grounded in mutual understanding and trust.
Supplier Diversity
As Halliburton’s business in the U.S. continues to expand, it is
important to establish a supply chain that can grow with us and
support our evolving supply demands. Halliburton is committed to
supporting local businesses, including small, minority- and womenowned businesses. Just as the diversity of our employees enhances
our business culture, diverse suppliers improve our supply chain,
allowing us to better manage our business and contribute to the
communities where we work and live.
Supplier Engagement
During 2013, Halliburton joined Chevron, CONSOL Energy, EQT
Corporation and Shell to host the second annual Supplier Diversity
Matchmaking event in Washington County, Pennsylvania. This
event matches each company’s specific operational needs with a
variety of regional and national suppliers who want to do business
in the Marcellus and Utica shale basins of the U.S. More than
140 companies were present for the event, and Halliburton
representatives met with approximately 30 diverse suppliers.
56 Customer Engagement
Each of the Company’s major accounts has an assigned global
account manager who coordinates customer relations. These
individuals are responsible for the full range of activities that
contribute to stronger, more productive business relationships,
including: developing strategies, managing conflict resolution
and contract negotiations, facilitating the development and
implementation of new technologies, and handling communication
between Halliburton and the account organization.
Technology Collaboration
Finding and producing hydrocarbons is becoming increasingly
complex. A number of our key customers around the globe choose
to partner with Halliburton to develop technology to address
technical challenges. In 2013, Halliburton was actively collaborating
on over 40 projects with its customers.
Halliburton has provided The Colorado School of Mines (CSM) with
a $2.5 million grant to support a sponsored research program as
well as CSM’s Halliburton Advanced Technology Graduate Fellows
Program and the school’s new petroleum engineering building.
The University of Wyoming’s School of Energy and Resources is
collaborating with Halliburton on long-term sponsored research
in the areas of rock physics and multiphase flow.
57
MUTUAL COLLABORATION // CONT...
Employee Engagement
Global Environmental Management Initiative
Each year, we bring together approximately 1,000 employees
from all over the world – rising stars as well as veterans – for the
Halliburton Academy. Participants receive intensive training on
our top technologies, marketing and sales training, and strategy
briefings from corporate officers, hemisphere presidents and
divisional vice presidents.
Halliburton participated in the annual meeting of the Global
Environmental Management Initiative (GEMI). GEMI is a nonprofit
organization of leading companies dedicated to fostering HSE
excellence, and environmental sustainability worldwide. The
organization facilitates and encourages the sharing of tools
and information to help businesses achieve these goals.
In 2013, the event included 565 first-time attendees, who were
challenged to aggressively grow Halliburton’s business by “Making
It Happen” – a call to help our Company become the world
leader in the development of deepwater reserves, mature fields
and unconventional assets. Our shared goals include growing
revenues and margins, improving execution and fostering a more
compelling sense of competitive urgency. Participants were
charged with delivering these themes to their colleagues after
the Academy concluded.
Public Engagement
Industry Engagement
Our involvement in the hydraulic-fracturing debate has extended
to more than 50 groups in the U.S., Canada, Europe, Australia and
South Africa including industry groups, policy writers, universities,
regulatory agencies, and public forums and panels. Halliburton has
been a contributor to the website, FracFocus.org, which is a joint
project of the Groundwater Protection Council (GWPC) and the
Interstate Oil and Gas Compact Commission. We are working with
the GWPC to promote the registry on the FracFocus site and with
major operators to help them in populating the site with information.
Halliburton engages with the industry and with technology leaders
to forge relationships that promote the advancement of science
and technology. The Company’s 2013 memberships included:
• U.S. Arab Bilateral Chamber of Commerce
• Greater Houston Partnership
• Texas Independent Producers Association
HYDRAULIC FRACTURING
Halliburton continues to work with state legislators and regulators
and with the public on providing an unprecedented level of
transparency regarding the fracturing process. We provide the
public with in-depth information on hydraulic-fracturing systems,
and we continue to provide our customers with the best
technologies and products.
• National Petroleum Council
• National Association of Manufacturers
• Western Energy Alliance
• National Foreign Trade Council (U.S.)
• U.S. Oil and Gas Association
• Independent Petroleum Association of America
• Houston World Affairs Council
• Petroleum Equipment Suppliers Association
• Society of Petroleum Engineers
• American Petroleum Institute
HYDRAULIC-FRACTURING MICROSITE
Halliburton maintains a hydraulic-fracturing microsite on its
corporate website to provide thorough, up-to-date information
on our fracturing activities, the products, materials and processes
that are involved, and issues related to fracturing. Since going live in
October 2010, the site has had more than 88,000 home page visits
and approximately 436,000 total page views by external visitors.
The microsite provides a list of additives and constituents in our
fracturing solutions and notes the more common household
and industrial uses for those additives. Currently, information is
available for formulations used in four U.S. regions (involving Texas,
Pennsylvania, West Virginia, North Dakota, Colorado, Utah and
Oklahoma) and also in Australia and the European Union.
Also featured on the microsite is a section called “Hydraulic
Fracturing 101,” which offers an animated, interactive presentation
to explain the basics of fracturing, where and why it is used, its
benefits and the safeguards that are in place throughout the process.
Another section, on Halliburton’s CleanSuite™ system technologies,
spotlights our unique suite of products designed with sustainability
as a key objective. The site also presents articles about projects
where our products and services have been used along with links to
related websites such as the U.S. Energy Information Administration
and the U.S. Environmental Protection Agency.
59
GRI Content Index
The following pages provide information on Halliburton’s use
of the Global Reporting Initiative (GRI) G3 Sustainability Guidelines.
1. 2013 CSR Reference
GRI Website
GRI Complete
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Strategy and Analysis
1.1 Statement from CEO 1.2 Key impacts, risks and opportunities 2. Organizational Profile
2.1 Name of the organization 2.2 Primary brands, products and/or services 2.3 Operational structure 2.4 Location of the organization’s headquarters 2.5 Countries where the organization operates 2.6 Nature of ownership and legal form 2.7 Markets served 2.8 Scale of reporting organization 2.9 Significant changes during the reporting period 2.10 Awards received in the reporting period 3. Report Parameters
3.1 Reporting period 3.2 Date of most recent previous report 3.3 Reporting cycle 3.4 Contact point regarding the report or its contents 3.5 Process for defining report content 3.6 Boundary of the report 3.7 Limitations on the scope or boundary of the report 3.8 Basis for reporting on joint ventures, subsidiaries and other entities 3.9 Data measurement techniques and the bases of calculations 3.10 Restatements of information provided in earlier reports 3.11 Significant changes from previous reporting periods in the scope,
boundary, or measurement methods applied in the report 3.12 GRI reference table 3.13 Independent assurance 4. Governance , Commitments and Engagement
4.1 Governance structure of the organization P. 8 4.2 Indicate whether the chairman is also an executive officer P. 1 4.3 Independent and/or non-executive members of the highest governance body P. 9 4.4 Mechanisms for shareholders to provide recommendations P. 9 4.5 Linkage between compensation and the organization’s performance P. 9 4.6 Conflicts of interest P. 9 4.7 Qualifications of the members of the highest governance body P. 8 4.8 Mission or values, codes of conduct, and principles P. 7, 11–12, 50, 53
4.9 Procedures to identify, and management of, economic, environmental and social performance ●
4.10 Processes for evaluating the board’s performance P. 9 4.11 Methods for addressing the precautionary principle ●
4.12 Adoption of external economic, social and environmental codes and principles ●
4.13 Memberships in industry associations P. 13, 58 4.14 List of stakeholder groups engaged by the organization P. 56 4.15 Basis for identification and selection of stakeholders with whom to engage P. 56 4.16 Approaches to stakeholder engagement P. 56-58 4.17 Key topics and concerns that have been raised through stakeholder engagement and actions taken P. 56-58 ECONOMIC PERFORMANCE
DMA EC Disclosure on management approach EC1 Direct economic value generated and distributed EC2 Financial implications and risks of climate change EC3 Coverage of defined benefit plan obligations EC4 Significant financial assistance from government EC6 Policy, practices and proportion of spending on locally based suppliers EC7 Local hiring EC8 Development of infrastructure investments and services provided primarily for public benefit  = Yes
60 IBC = inside back cover
C
Halliburton declares that this
meets a “C” application level.
2013 CSR Reference
GRI Website
GRI Complete
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ENVIRONMENTAL PERFORMANCE
DMA EN Disclosure on management approach EN1 Materials used by weight/volume EN2 Percent of materials recycled EN3 Direct energy consumption by primary energy source EN4 Indirect energy consumption by primary source EN8 Water withdrawal by source EN11 Location of lands adjacent to high biodiversity areas EN12 Description of significant impacts of activities on biodiversity EN16 Direct greenhouse gas emissions EN17 Other indirect greenhouse gases by weight EN19 Emissions of ozone depleting substances EN20 NOx, SOx and other significant air emissions by type and weight EN21 Total water discharge by quality/destination EN22 Total weight of waste by type and disposal method EN23 Total number and volume of significant spills EN26 Initiatives to mitigate environmental impacts of products and services EN27 Percentage of products sold and packaging reclaimed EN28 Monetary value of fines and penalties LABOR PRACTICES
DMA LA Disclosure on management approach LA1 Total workforce by region LA2 New hires/turnover by age, gender, region LA4 Employees cover by collective bargaining LA5 Minimum notice for operational changes LA7 Rates of injury, occupational diseases, lost days, fatalities LA8 Education, training, counseling, prevention on serious diseases LA10 Employee training LA13 Composition of governance bodies LA14 Men-to-women salary ratios LA15 Return to work/retention rates after leave HUMAN RIGHTS
DMA HR Disclosure on management approach HR1 Agreements that include human rights clauses HR2 Suppliers/contractors undergoing HR screening HR3 Employee training on HR issues HR4 Incidents of discrimination and corrective actions HR5 Operations/suppliers violating collective-bargaining freedom HR6 Operations/suppliers at risk for use of child labor HR7 Operations/suppliers at risk for use of forced labor HR10 Operations subjected to HR reviews HR11 Grievances filed on HR issues SOCIETY
DMA SO Disclosure on management approach SO1 Programs on impacts of operations SO2 Business units analyzed for risk from corruption SO3 Employees trained in organization’s anti-corruption policies and procedures SO4 Actions taken in response to incidents of corruption SO5 Public policy on lobbying SO8 Fines/penalties for noncompliance SO9 Operations with negative impacts on communities SO10 Prevention/mitigation of negative impacts on communities PRODUCT RESPONSIBILITY
DMA PR Disclosure on management approach PR1 Life-cycle stages evaluations of products and services PR3 Product/service information required by procedures PR6 Programs for adherence to laws on marketing PR9 Fines/penalties for noncompliance with product use laws 61
We are working to be
a leader in corporate
sustainability.
Discover what moves
us ahead.
REPORT INFORMATION //
Previous Reports
LOOK BENEATH THE SURFACE
Calendar year 2012
INTEGRATING SUSTAINABILITY –
EXPANDING OUR COMMITMENT
Calendar year 2011
SUSTAINABILITY IS IN OUR DNA
Calendar year 2010
Report Parameters
Reporting period: Calendar Year 2013
Published date of previous report: March 2013
Reporting cycle: Annual
Printed on FSC-certified paper that contains 100 percent
post-consumer recovered fiber. FSC certification ensures that
this paper meets Forest Stewardship Council standards for
responsible forest management.
For More Information
For additional copies, please contact:
Halliburton Global Director of Sustainability
10200 Bellaire Boulevard
1NE-42A
Houston, Texas 77072
United States
Email: [email protected]
Visit our GRI Index Response web page at
www.halliburton.com/sustainability.
Halliburton is a publicly traded corporation registered in Delaware.
There were no significant changes to the size, structure or
ownership of the Company in 2013.
In this report, only the financial data encompasses all of our
product service lines, countries, joint ventures and non-wholly
owned subsidiaries.
This report contains descriptions of our 2013 sustainability
initiatives. Wherever possible, assessments of performance trends
from 2010 to 2013 are provided to better highlight the trends’
significance over time. Topics covered in this report are those most
pertinent to our business sector, and they arise from the context
and expectations of the sector. Our analysis of the significance of
topics relates to the Company’s short- and long-term strategies,
and takes into consideration:
• Issues included in surveys sent to companies by sustainability
indexes and financial rating agencies for the assessment of
sustainability performances
• Public information coming from institutions, governments,
nongovernment organizations (NGOs) and associations, at
both international and local levels
• Benchmark analysis and monitoring of the oil and gas sector.
The boundaries of this report correspond to those of the 2013
Halliburton Annual Report.
The data included in this report come from the Company’s official
management and reporting systems for the various functions
described in this document.
The 2013 Corporate Sustainability Report was drafted in
accordance with the Reporting Guidelines of the Global
Reporting Initiative, version G3.
281.871.2699
www.halliburton.com
© 2014 Halliburton. All Rights Reserved.
Printed in the USA
H010841
WHAT
MOVES
US

2013 Corporate Sustainability Report

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